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 as the optimism over the OPEC deal continues to push higher. Today’s range $48.3-47
• WTI is currently trading at $47.9/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 - $48.8-50.2
• Brent is trading at $1.9 per barrel premium to WTI.
• Brent is trading at $49.8/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas is the worst performer this week as it failed to break above $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 $2.91-2.98       
• Natural Gas is currently trading at $2.92/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at  $3.1, $3.3 and $3.9