Commodities snapshot (energy)

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

Oil (WTI) –

• WTI raced higher as the US launches missile strikes against Syria, however, retraced majority of the gains. Today’s range $51.5-53
• WTI is currently trading at $52/barrel. Immediate support lies at $46 area and resistance at $52 area.

Oil (Brent) –

• Brent is up in line with the WTI. Today’s range - $54.5-56.1
• Brent is trading at $3.1 per barrel premium to WTI. Likely to widen further in the medium term.
• Brent is trading at $55.1/barrel. Immediate support lies at $49 area and resistance at $56 region.

Natural Gas –   

• Natural gas broke above key resistance around $3.3 area. Today’s range $3.26-3.35
• Resuming long-term bull trend would push the gas price to $4.3 per MMBtu.
• Natural Gas is currently trading at $3.29/MMBtu. Immediate support lies at $2.8 area & resistance at and $3.2