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 President Trump moves the U.S. out of the Iran deal. However, struggling as the dollar gains. Today’s range - $70.8-$71.4
• WTI is currently trading at $71/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 - $78.4-77.6
• Brent is trading at $6.7 per barrel premium to WTI.
• Brent is trading at $77.7/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 $2.81-2.85
• Natural Gas is currently trading at $2.84/MMBtu. Immediate support lies at $2.62 area & resistance at $2.85, and $2.90

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