Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price edging higher over OPEC optimism as Uzbekistan and Turkmenistan announced intentions to attend OPEC meeting. Today’s range - $55.6-$56.3
• Active call – Buy targeting $56 per barrel
• WTI is currently trading at $56/barrel. Immediate support lies at $49 area and resistance at $53 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $62-62.9
• Brent is trading at $6.5 per barrel premium to WTI.
• Brent is trading at $62.5/barrel. Immediate support lies at $54 area and resistance at $59 region.

Natural Gas –   

• Natural gas continuing its consolidation in a narrow range but remains upbeat this week. Today’s range $2.99-3.09      
• Natural Gas is currently trading at $3.06/MMBtu. Immediate support lies at $2.75 area & resistance at and $3.12

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