Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price undergoing a correction as increase supplies from the U.S. threatens price. Today’s range - $59.8-$58.4
• WTI is currently trading at $58.7/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 - $63.1-61.7
• Brent is trading at $3.4 per barrel premium to WTI.
• Brent is trading at $62.1/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 inventories are still elevated. Today’s range $2.56-2.65      
• Natural Gas is currently trading at $2.63/MMBtu. Immediate support lies at $2.45 area & resistance at $2.78, and $2.90

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