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 as Israel accuses Iran of secretly pursuing nuclear weapons and Trump set to move the United States out of the Iran agreement. Today’s range - $68.1-$68.9
• WTI is currently trading at $68.8/barrel. Immediate support lies at $63 area and resistance at $69area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $74-73.2
• Brent is trading at $5.5 per barrel premium to WTI.
• Brent is trading at $74/barrel. Immediate support lies at $66 area and resistance at $74 region.

Natural Gas –   

• Natural gas is continuing its recovery after finding support around $2.5 area. Today’s range $2.75-2.71
• Natural Gas is currently trading at $2.72/MMBtu. Immediate support lies at $2.45 area & resistance at $2.78, and $2.90

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