Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is down today as it failed to gain from the news that Russian energy minister Alexander Novak said that common ground has been found after meeting with Saudi counterpart Khalid al-Falih. Today’s range $50.1-51
• Buy WTI targeting $53.5 area. Target extended to $68
• WTI is currently trading at $50.4/barrel. Immediate support lies at $44 area and resistance at $54.2 area.

Oil (Brent) –

• Brent is down in line with WTI. Today’s range - $51.2-52
• Brent is trading at $1.1 per barrel premium to WTI.
• Brent is trading at $51.5/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas is again down today after devastation last week. We continue to expect natural gas to go to $4.3 area. New targets of $3.7 and $5.5 have been introduced. Today’s range $3.01-3.13
• Natural Gas is currently trading at $2.95/mmbtu. Immediate support lies at $3, $2.8 area & resistance at  $3.3 and $3.9