Commodities snapshot (energy)

Energy pack is down 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 - $61.3-$62.1
• WTI is currently trading at $61.4/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 - $68.1-67.2
• Brent is trading at $6 per barrel premium to WTI.
• Brent is trading at $67.4/barrel. Immediate support lies at $59 area and resistance at $65 region.

Natural Gas –   

• Natural gas declined sharply as bomb cyclone failed to deplete stocks more than expected and as winter end nears. Today’s range $2.89-2.74  
• Natural Gas is currently trading at $3.02/MMBtu. Immediate support lies at $2.75 area & resistance at and $2.96 and at $3.12

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