Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price remains elevated over geopolitical tensions surrounding Iran. Today’s range - $61.6-$62.2
• WTI is currently trading at $61.7/barrel. Immediate support lies at $58 area and resistance at $64 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $68.3-67.6
• Brent is trading at $6 per barrel premium to WTI.
• Brent is trading at $67.7/barrel. Immediate support lies at $59 area and resistance at $65 region.

Natural Gas –   

• Natural gas recovered above $3 per MMBtu but bullish outlook clouded as winter end nears. Today’s range $2.97-3.07        
• Natural Gas is currently trading at $3.02/MMBtu. Immediate support lies at $2.92, $2.75 area & resistance at and $3.12

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