Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price struggling to move higher as Russia and Saudi Arabia considers cap easing to the tune of 1 million barrels per day. Today’s range - $66.1-$65.2
• WTI is currently trading at $65.4/barrel. Immediate support lies at $65 area and resistance at $71 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $77-75.5
• Brent is trading at $10.4 per barrel premium to WTI.
• Brent is trading at $75.8/barrel. Immediate support lies at $75 area and resistance at $82 region.

Natural Gas –   

• Natural gas is continuing its recovery after finding support around $2.5 area. The best performer of the week. Today’s range $2.95-2.99
• Natural Gas is currently trading at $2.97/MMBtu. Immediate support lies at $2.82 area & resistance at $3.07

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