Commodities snapshot (energy)

Energy pack is mixed 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. Today’s range - $69-$69.4
• WTI is currently trading at $69.1/barrel. Immediate support lies at $67 area and resistance at $75 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $74.2-73.1
• Brent is trading at $5.5 per barrel premium to WTI.
• Brent is trading at $74.6/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 $2.72-$2.76
• Natural Gas is currently trading at $2.89/MMBtu. Immediate support lies at $2.72 area & resistance at $2.92