Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is struggling to gain despite OPEC extending production deal and the Middle East tensions. Today’s range - $57.8-$58.2
• WTI is currently trading at $58/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. North Sea pipeline burst is pushing Brent higher. Today’s range - $64.2-64.7
• Brent is trading at $6.4 per barrel premium to WTI.
• Brent is trading at $64.4/barrel. Immediate support lies at $59 area and resistance at $65 region.

Natural Gas –   

• Natural gas remains downbeat over the prospects of a warmer winter. However, retracing some of the losses of past two weeks. Today’s range $2.67-2.61 
• Natural Gas is currently trading at $2.63/MMBtu. Immediate support lies at $2.56, $2.62 area & resistance at and $2.82

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