Commodities snapshot (energy)

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

Oil (WTI) –

• WTI rose sharply yesterday after OPEC surprisingly secured a production ceiling deal that would be finalized in November. Today’s range $46.6-47.5
• WTI is currently trading at $47.2/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 - $48-49.1
• Brent is trading at $1.4 per barrel premium to WTI.
• Brent is trading at $48.6/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas is still struggling 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