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 and Venezuela and as inventories slide. Today’s range - $65.7-$66.7
• WTI is currently trading at $66.3/barrel. Immediate support lies at $62 area and resistance at $66 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $70.7-71.3
• Brent is trading at $4.3 per barrel premium to WTI.
• Brent is trading at $70.9/barrel. Immediate support lies at $67 area and resistance at $72 region.

Natural Gas –   

• Natural gas spiked as the market anticipates sharp slide in inventories. Today’s range $3.58-3.43        
• Natural Gas is currently trading at $3.45/MMBtu. Immediate support lies at $3.32, $3.4 area & resistance at and $3.75 and at $3.85

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