Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is down today after big rise last week. Today’s range $47.6-49
   
• WTI is currently trading at $47.9/barrel. Immediate support lies at $40 area and resistance at $50.2 area.

Oil (Brent) –

• Brent crossed above $50 per barrel today. Today’s range - $50.5-49.2
   
• Brent is trading at $1.7 per barrel premium to WTI.
   
• Brent is trading at $49.6/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas gained big today. We expect natural gas to go to $4.3 area. Today’s range $2.7-2.6                           

• Natural Gas is currently trading at $2.69/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1