Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is struggling as trade tensions weigh on demand, especially the deterioration in relations between Turkey and the U.S. and the weakness in the emerging markets.  Today’s range - $66-$66.9
• WTI is currently trading at $66.3/barrel. Immediate support lies at $64 area and resistance at $72 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $72.5-71.5
• Brent is trading at $5.6 per barrel premium to WTI.
• Brent is trading at $71.9/barrel. Immediate support lies at $70 area and resistance at $79 region.

Natural Gas –   

• The bounce back from $2.7 area is continuing, as the U.S. and the EU have agreed in principle to trade more on gas.  Today’s range $2.92-$2.97
• Natural Gas is currently trading at $2.93/MMBtu. Immediate support lies at $2.84 area & resistance at $3.10