Energy pack is up today. Weekly performance at a glance in chart & table. Oil (WTI) - WTI recovered sharply after falling to lowest since 2003. Saudi-Iran tension means supply glut to stay in 2016, at least from Middle E…
Energy pack is up today. Weekly performance at a glance in chart & table.
Oil (WTI) -
WTI recovered sharply after falling to lowest since 2003. Saudi-Iran tension means supply glut to stay in 2016, at least from Middle East unless greater turmoil takes place. Iran today accused Saudi Arabia of bombing its embassy in Yemen. Today's range $32.1-34.3
WTI is currently trading at $33.9/barrel. Immediate support lies at $28, $32 area and resistance at $38, $43.6 area.
Oil (Brent) -
Brent is worse performer than WTI. Today's range - $32.1-34.8
Brent-WTI spread is at 40 cents per barrel.
Brent is trading at $34.3/barrel. Immediate support lies at $28, $31 area and resistance at $39, $47 region.
Natural Gas -
Natural gas rose sharply as inventories drop by more than 100 billion cubic feet. Today's range $2.26-2.41
Natural Gas is currently trading at $2.39/mmbtu. Immediate support lies at $2.19 area & resistance at $2.4, 2.5
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