Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is weak today and this week, despite OPEC all set to extend production deal. Today’s range - $58-$56.8
• WTI is currently trading at $57.3/barrel. Immediate support lies at $54 area and resistance at $60 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. It is much better performer this week. Today’s range - $63.4-62.2
• Brent is trading at $5.4 per barrel premium to WTI.
• Brent is trading at $62.7/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. It is sharply down after another failed attempt to break higher. Today’s range $2.94-3.08         
• Natural Gas is currently trading at $3.07/MMBtu. Immediate support lies at $2.96, $2.8 area & resistance at and $3.25

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