Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is recovering after a two-week slide since OPEC extended production deal. Today’s range - $57.9-$58.6
• 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. North Sea pipeline burst is pushing Brent higher. Today’s range - $64.6-65.9
• Brent is trading at $7.2 per barrel premium to WTI.
• Brent is trading at $65.6/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 again testing range low. Today’s range $2.79-2.85
• Natural Gas is currently trading at $2.82/MMBtu. Immediate support lies at $2.72, $2.8 area & resistance at and $3.04

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