Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is struggling as President Trump offered negotiations opportunity to Iran reducing geopolitical tensions in the region. Today’s range - $66.9-$68.2
• WTI is currently trading at $68.2/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 - $71.8-73
• Brent is trading at $5.2 per barrel premium to WTI.
• Brent is trading at $72.7/barrel. Immediate support lies at $70 area and resistance at $79 region.

Natural Gas –   

• The bounce back from $2.7 area is continuing, however, a further drop towards $2.5 area is likely.  Today’s range $2.79-$2.74
• Natural Gas is currently trading at $2.77/MMBtu. Immediate support lies at $2.72 area & resistance at $2.92