Commodities snapshot (energy)

Energy pack is mixed 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 and as U.S. production continues to rise. Today’s range - $66.5-$67.1
• WTI is currently trading at $67/barrel. Immediate support lies at $61 area and resistance at $67 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $76.9-76.3
• Brent is trading at $9.8 per barrel premium to WTI.
• Brent is trading at $76.7/barrel. Immediate support lies at $72 area and resistance at $77 region.

Natural Gas –   

• Natural gas is testing resistance around $3 area. Today’s range $2.91-2.97
• Natural Gas is currently trading at $2.94/MMBtu. Immediate support lies at $2.82 area 8& resistance at $3.07

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