Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is racing higher as it cleared crucial resistance around $52 area on Syria airstrikes. Today’s range $52.3-53
• WTI is currently trading at $52.8/barrel. Immediate support lies at $49 area and resistance at $54 area.

Oil (Brent) –

• Brent is up in line with the WTI. Brent is testing key resistance. Today’s range - $55.2-56
• Brent is trading at $3.1 per barrel premium to WTI. Likely to widen further in the medium term.
• Brent is trading at $55.9/barrel. Immediate support lies at $49 area and resistance at $56 region.

Natural Gas –   

• Natural gas suffering a correction from the key resistance around $3.3 area. Today’s range $3.29-3.22
• Resuming long-term bull trend would push gas price to $4.3 per MMBtu.
• Natural Gas is currently trading at $3.24/MMBtu. Immediate support lies at $2.8 area & resistance at and $3.2