Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is consolidating above $50 per barrel, however, sellers are looking to push the price below $50 area. Today’s range $50.4 -49.9
• Active call – Buy targeting $56 per barrel
• WTI is currently trading at $50.3/barrel. Immediate support lies at $45 area and resistance at $52 area.

Oil (Brent) –

• Brent remains elevated over greater demand compared to landlocked WTI. Today’s range - $55.4-55.9
• Brent is trading at $5.5 per barrel premium to WTI.
• Brent is trading at $55.8/barrel. Immediate support lies at $51 area and resistance at $56 region.

Natural Gas –   

• Natural gas is looking to break support around $2.89 area. Today’s range $2.89-2.93
• Short call soured. If resistance cleared, likely to move towards $3.5 area
• Natural Gas is currently trading at $2.92/MMBtu. Immediate support lies at $2.87 area & resistance at and $3.12, $3.22

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