Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is higher this week on OPEC optimism and higher crude draw. Today’s range $51.7 -50.7
• Active call – Buy targeting $56 per barrel
• WTI is currently trading at $51.5/barrel. Immediate support lies at $49 area and resistance at $53 area.

Oil (Brent) –

• Brent is underperforming WTI this week. Today’s range - $56.3-57.6
• Brent is trading at $5.9 per barrel premium to WTI.
• Brent is trading at $57.4/barrel. Immediate support lies at $54 area and resistance at $59 region.

Natural Gas –   

• Natural gas bulls energized by Hurricane impact and the prospect of a cold winter. Today’s range $3.04-2.98
• Natural Gas is currently trading at $3.02/MMBtu. Immediate support lies at $2.87 area & resistance at and $3.12

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