Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is gaining grounds after a major correction. Today’s range - $62.5-$63.1
• WTI is currently trading at $62.9/barrel. Immediate support lies at $59 area and resistance at $65 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $66.7-66.1
• Brent is trading at $3.6 per barrel premium to WTI.
• Brent is trading at $66.5/barrel. Immediate support lies at $64 area and resistance at $71 region.

Natural Gas –   

• Natural gas is recovering this week after finding support around $2.5 area. Today’s range $2.65-2.70           
• Natural Gas is currently trading at $2.65/MMBtu. Immediate support lies at $2.45 area & resistance at $2.78, and $2.90

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