Commodities snapshot (energy)

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

Oil (WTI) –

• WTI reversed gains after Iranian officials declined rumor of cooperation and declined to confirm whether Iran would join next month’s meeting or not.. Today’s range $47.5-47.7

• WTI is currently trading at $47.1/barrel. Immediate support lies at $42 area and resistance at $50.2 area.

Oil (Brent) –

• Brent is better performer than WTI his week. Today’s range - $49-49.7
   
• Brent is trading at $2.2 per barrel premium to WTI.
   
• Brent is trading at $49.3/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas is the best performer this week. We expect natural gas to go to $4.3 area. Today’s range $2.75-2.79

• Natural Gas is currently trading at $2.77/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1