Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is recovering again after a long correction amid geopolitical tensions.  Today’s range - $67.5-$68.9
• WTI is currently trading at $68.9/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 - $72.7-73.9
• Brent is trading at $4.8 per barrel premium to WTI.
• Brent is trading at $73.7/barrel. Immediate support lies at $70 area and resistance at $79 region.

Natural Gas –   

• Natural gas likely to drop towards $2.5 area. Today’s range $2.7-$2.75
• Natural Gas is currently trading at $2.73/MMBtu. Immediate support lies at $2.72 area & resistance at $2.92, $3.10