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Commodities snapshot (energy)

Energy pack is mixed, while oil is down, gas is in green. Weekly performance at a glance in chart & table.

Oil (WTI) -

  • WTI traded in high volatility today as Iran deal sanctions removal weighs on price. WTI traded as low as $51.9/barrel falling from as high as 53.5 as Iran sanctions remain in place.
  • $54 area remains crucial resistance. Today's range $53.5-51.9
  • Crude stocks shrank by -4.35 million barrels.

  • WTI is currently trading at $52.4/barrel. Immediate support lies at $51.2-50 and resistance at $54

Oil (Brent) -

  • Possible Iran sanction removal by next week is keeping the pressure on Brent.
  • Brent-WTI spread flat today, currently trading at $5.4/barrel.
  • Target is reached around $55/barrel, and next target is around $51/barrel.

  • Brent is trading at $57.8/barrel. Immediate support lies at $55 area and resistance at $59/60 region.

Natural Gas -

  • Natural gas bulls tried to assault $2.95/mmbtu area, however progress was halted at $2.92 area.
  • Bulls are in control, however bears still remain strong around the above mentioned level.

  • Bullish Doji, in weekly chart remains in focus.

  • Natural Gas is currently trading at $2.89/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.93, $3.04, $3.32.

WTI

-0.72%

Brent

-1.58%

Natural Gas

 

+3.62%

  • Market Data
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