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Energy pack is mixed today, while oil is down, gas is up. Weekly performance at a glance in chart & table.
Oil (WTI) -
- WTI is the worst performer today, as inventory posted surprise gains. Today's range $41.6-43.2
- Inventory rose by 2.62 million barrels against expectation of -0.8 million barrels of shrinkage.
- WTI is currently trading at $41.8/barrel. Immediate support lies at $42-40 area and resistance at $47-49 area.
Oil (Brent) -
- Brent is better performer than WTI today. Today's range - $47.6-49.1.
- Brent-WTI spread dropped to $5.9/barrel, further contraction likely.
- Brent is trading at $47.7/barrel. Immediate support lies at $45 area and resistance at $53 region.
Natural Gas -
- Natural testing support area of $2.7, focus on inventory report tomorrow. Today's range $2.69-2.75.
- Price might reach as low as $2.35 if it clears $2.7 mark, since bulls failed at $2.95 area.
- Natural Gas is currently trading at $2.72/mmbtu. Immediate support lies at $2.7, $2.55, $2.45 area & resistance at $2.95, $3.04, $3.32.
|
WTI |
-0.85% |
|
Brent |
-2.61% |
|
Natural Gas |
-2.96% |
