Commodities snapshot (energy)

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

Oil (WTI) –

• WTI continuing its decline on the fear of a supply glut along with fading hope that production freeze would take place. Today’s range $43.9-45.1
   
• WTI is currently trading at $44/barrel. Immediate support lies at $42 area and resistance at $50.2 area.

Oil (Brent) –

• Brent’s performance improved since yesterday compared to WTI. Today’s range - $46-47.3
   
• Brent is trading at $2.2 per barrel premium to WTI.
   
• Brent is trading at $46.2/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas is marginally down today, best performer this week. We expect natural gas to go to $4.3 area. Today’s range $2.89-2.82               

• Natural Gas is currently trading at $2.83/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1