Commodities snapshot (energy)

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

Oil (WTI) –

• WTI remains well bid in on OPEC production freeze optimism. Today weaker dollar is supporting the price. Today’s range $46-46.6
   
• WTI is currently trading at $46.2/barrel. Immediate support lies at $40 area and resistance at $50.2 area.

Oil (Brent) –

• Brent is much better performer than WTI this week. Today’s range - $48.5-49.5
   
• Brent is trading at $2.5 per barrel premium to WTI.
   
• Brent is trading at $49.1/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas remains the weakest performer of the week. We expect natural gas to go down around $2.4 area, before it goes to $4.3 area. Today’s range $2.55-2.6     

• Natural Gas is currently trading at $2.6/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1