Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is down today but remains upbeat over OPEC optimism as the market is coming closer to rebalancing. Today’s range - $56.8-$57.2
• Active call – Buy targeting $56 per barrel
• WTI is currently trading at $56.9/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 $6.5 per barrel premium to WTI.
• Brent is trading at $63.5/barrel. Immediate support lies at $59 area and resistance at $65 region.

Natural Gas –   

• Natural gas is testing the range high. Today’s range $3.11-3.16       
• Natural Gas is currently trading at $3.12/MMBtu. Immediate support lies at $2.75 area & resistance at and $3.15

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