Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is testing key resistance around $52 area. Today’s range $51.1-51.7
• WTI is currently trading at $51.5/barrel. Immediate support lies at $46 area and resistance at $52 area.

Oil (Brent) –

• Brent is a much better performer than the WTI today. Today’s range - $54-54.9
• Brent is trading at $3.3 per barrel premium to WTI. Likely to widen further in the medium term.
• Brent is trading at $54.8/barrel. Immediate support lies at $49 area and resistance at $56 region.

Natural Gas –   

• Natural gas is heading to test key resistance around $3.3 area. Today’s range $3.23-3.3
• Resuming long-term bull trend would push gas price to $4.3 per MMBtu.
• Natural Gas is currently trading at $3.27/MMBtu. Immediate support lies at $2.8 area & resistance at and $3.2