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 - $70.7-$69.7
• WTI is currently trading at $70.5/barrel. Immediate support lies at $66 area and resistance at $72area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $74.8-75.9
• Brent is trading at $5.1 per barrel premium to WTI.
• Brent is trading at $75.6/barrel. Immediate support lies at $69 area and resistance at $79 region.

Natural Gas –   

• Natural gas is continuing its recovery after finding support around $2.5 area. Today’s range $2.69-2.74
• Natural Gas is currently trading at $2.7/MMBtu. Immediate support lies at $2.45 area & resistance at $2.78, and $2.90

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