Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is up today but remains under pressure as no freeze deal at sight. Instead, Iran insisted that it wants to gain its 13 percent share in OPEC production. Today’s range $44.5-45.5
• WTI is currently trading at $45.4/barrel. Immediate support lies at $42 area and resistance at $50.2 area.

Oil (Brent) –

• Brent is up in line with WTI today. Today’s range - $45.9-47
• Brent is trading at $1.4 per barrel premium to WTI.
• Brent is trading at $46.8/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas is is down today as it continue to struggle around $3 area. We expect natural gas to go to $4.3 area. New targets $3.7 and $5.5 have been introduced. Today’s range $2.95-3.05   
• Natural Gas is currently trading at $2.97/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at  $3.1, $3.3 and $3.9