Commodities snapshot (energy)

Energy pack is mixed 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 - $61.2-$61.8
• WTI is currently trading at $61.3/barrel. Immediate support lies at $59 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 - $64.8-65.6
• Brent is trading at $3.6 per barrel premium to WTI.
• Brent is trading at $64.9/barrel. Immediate support lies at $62 area and resistance at $67 region.

Natural Gas –   

• Natural gas declining sharply after major spike as winter end nears and as contract shifted. Expect elevated volatility. Today’s range $2.73-2.67
• Natural Gas is currently trading at $2.73/MMBtu. Immediate support lies at $2.82, $3.01 area & resistance at and $3.21 and at $3.35

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