Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is moving lower as the OPEC is expected to fall short of expectations. Today’s range - $53.3- $50.2
• WTI is currently trading at $50.7/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 - $60.7-63.3
• Brent is trading at $8.7 per barrel premium to WTI.
• Brent is trading at $59.4/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 $4.27 -$4.63
• Natural Gas is currently trading at $4.34/MMBtu. Immediate support lies at $4.1 area & resistance at $5.1