Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is recovering as OPEC+ announced 1.2 million barrels of supply reduction.  Today’s range - $53.6- $54.2
• WTI is currently trading at $53.8/barrel. Immediate support lies at $45 area and resistance at $55 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geo-political tension and OPEC agreement. Today’s range - $59.1-63.7
• Brent is trading at $9.3 per barrel premium to WTI.
• Brent is trading at $63.1/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 $4.23 -$4.50
• Natural Gas is currently trading at $4.47/MMBtu. Immediate support lies at $4.1 area & resistance at $5.1     

WTI	+5.64%
Brent	+6.11%
Natural Gas	-3.25%