Commodities snapshot (energy)

Energy pack is up 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 - $57.1-$57.7
• Active call – Buy targeting $56 per barrel
• WTI is currently trading at $57.3/barrel. Immediate support lies at $54 area and resistance at $60 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $63.8-64.7
• Brent is trading at $6.8 per barrel premium to WTI.
• Brent is trading at $64.1/barrel. Immediate support lies at $59 area and resistance at $65 region.

Natural Gas –   

• Natural gas is testing the range high. Today’s range $3.08-3.15       
• Natural Gas is currently trading at $3.13/MMBtu. Immediate support lies at $2.75 area & resistance at and $3.15

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