Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price heading higher as the focus shifts from OPEC to geopolitical tensions surrounding Iran and Libya. Today’s range - $72.5-$74.3
• WTI is currently trading at $73.8/barrel. Immediate support lies at $67 area and resistance at $75 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geo-political tension and OPEC agreement. Today’s range - $77.9-79.2
• Brent is trading at $4.2 per barrel premium to WTI.
• Brent is trading at $78/barrel. Immediate support lies at $74 area and resistance at $81 region.

Natural Gas –   

• Natural gas bulls heading sharply lower as the bulls fail to clear resistance around $3 area. Today’s range $2.93-$2.84
• Natural Gas is currently trading at $2.86/MMBtu. Immediate support lies at $2.85 area 8& resistance at $3.10