Commodities snapshot (energy)

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

Oil (WTI) –

• WTI remains elevated on OPEC optimism and Iran sanction fear. Today’s range $51.4 -50.8
• Active call – Buy targeting $56 per barrel
• WTI is currently trading at $51/barrel. Immediate support lies at $49 area and resistance at $53 area.

Oil (Brent) –

• Brent is underperforming WTI this week. Today’s range - $56.3-57.1
• Brent is trading at $5.6 per barrel premium to WTI.
• Brent is trading at $56.6/barrel. Immediate support lies at $54 area and resistance at $59 region.

Natural Gas –   

• Natural gas is heading higher as production shuts down in Gulf of Mexico over Hurricane Nate. Today’s range $2.95-2.87
• Natural Gas is currently trading at $2.93/MMBtu. Immediate support lies at $2.75 area & resistance at and $2.96

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