Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is recovering on OPEC cut possibility after heavy selling over the last two months. Today’s range - $50.5- $53.9
• WTI is currently trading at $52.5/barrel. Immediate support lies at $45 area and resistance at $55 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $59.1-62.6
• Brent is trading at $8.5 per barrel premium to WTI.
• Brent is trading at $61/barrel. Immediate support lies at $57 area and resistance at $63 region.

Natural Gas –   

• The natural gas price moving higher after finding support around $4 area. The volatility has increased significantly.  Today’s range $4.63 -$4.27
• Natural Gas is currently trading at $4.35/MMBtu. Immediate support lies at $4.1 area & resistance at $5.1