Commodities snapshot (energy)

Energy pack is down in today’s trading. Weekly performance at a glance in chart & table,

Oil (WTI) –

• Oil price remains upbeat on Middle East tensions and approaching OPEC meeting. Today’s range - $59-$58.2
• WTI is currently trading at $58.4/barrel. Immediate support lies at $54 area and resistance at $60 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geo-political tension and OPEC agreement but much worse since past two weeks. Today’s range - $63.9-63.4
• Brent is trading at $5.3 per barrel premium to WTI.
• Brent is trading at $63.7/barrel. Immediate support lies at $59 area and resistance at $65 region.

Natural Gas –   

• Natural gas is continuing range trade despite several breakout attempts on both sides. Today’s range $2.81-2.95      
• Natural Gas is currently trading at $2.93/MMBtu. Immediate support lies at $2.96 area & resistance at and $3.12

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