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 - EconoTimes)
Energy pack is mixed, while oil is up, gas is down today. Weekly performance at a glance in chart & table.
Oil (WTI) -
- WTI rose sharply today as bulls successfully defended key support around $43 area. Today's range $47.4-44.8.
- EIA report showed inventory dropped by 2.1 million barrels.
- WTI is currently trading at $46.8/barrel. Immediate support lies at $43.3, $41.5 area and resistance at $48 area.
Oil (Brent) -
- Brent rose sharply along WTI, however relatively worse performer than WTI. Today's range - $47.7-50.4
- Brent-WTI spread is trading at $2.7/barrel. Further contraction likely.
- Brent is trading at $49.5/barrel. Immediate support lies at $45 area and resistance at $52.5, 59 region.
Natural Gas -
- Natural gas is dropped sharply wiping out its recent sharp gains. Today's range $2.74-2.65.
- Natural Gas is currently trading at $2.66/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.75, $2.95, $3.04, $3.32.
|
WTI |
+4.70% |
|
Brent |
+2.95% |
|
Natural Gas |
1.00% |
