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 - $61.3-$62
• WTI is currently trading at $61.6/barrel. Immediate support lies at $58 area and resistance at $64 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geo-political tension and OPEC agreement. Today’s range - $68-67.4
• Brent is trading at $6.2 per barrel premium to WTI.
• Brent is trading at $67.8/barrel. Immediate support lies at $62 area and resistance at $70 region.

Natural Gas –   

• Natural gas is down as bomb cyclone failed to deplete stocks more than expected and as winter end nears. Today’s range $2.87-2.78        
• Natural Gas is currently trading at $2.83/MMBtu. Immediate support lies at $2.75 area & resistance at and $2.96 and at $3.12

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