Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is down today as OPEC and IEA report warns on supply. Today’s range $46.2-45
• WTI is currently trading at $45.2/barrel. Immediate support lies at $42 area and resistance at $50.2 area.

Oil (Brent) –

• Brent is down in line with WTI. Today’s range - $48.2-47.2
• Brent is trading at $2.2 per barrel premium to WTI.
• Brent is trading at $47.4/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas is the best performer of the day and the week. We expect natural gas to go to $4.3 area. Today’s range $2.88-2.95     
• Natural Gas is currently trading at $2.92/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1