Energy pack is mixed, while oil is down, gas is in green. Weekly performance at a glance in chart & table.
Oil (WTI) -
- WTI traded in high volatility today as Iran deal sanctions removal weighs on price. WTI traded as low as $51.9/barrel falling from as high as 53.5 as Iran sanctions remain in place.
- $54 area remains crucial resistance. Today's range $53.5-51.9
- Crude stocks shrank by -4.35 million barrels.
- WTI is currently trading at $52.4/barrel. Immediate support lies at $51.2-50 and resistance at $54
Oil (Brent) -
- Possible Iran sanction removal by next week is keeping the pressure on Brent.
- Brent-WTI spread flat today, currently trading at $5.4/barrel.
- Target is reached around $55/barrel, and next target is around $51/barrel.
- Brent is trading at $57.8/barrel. Immediate support lies at $55 area and resistance at $59/60 region.
Natural Gas -
- Natural gas bulls tried to assault $2.95/mmbtu area, however progress was halted at $2.92 area.
- Bulls are in control, however bears still remain strong around the above mentioned level.
- Bullish Doji, in weekly chart remains in focus.
- Natural Gas is currently trading at $2.89/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.93, $3.04, $3.32.
|
WTI |
-0.72% |
|
Brent |
-1.58% |
|
Natural Gas |
+3.62% |


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