Commodities snapshot (energy)

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

Oil (WTI) –

• Despite OPEC deal and Middle East tensions, oil price remains dogged by supply glut fear  Today’s range $45.7-46.2
• WTI is currently trading at $46.2/barrel. Immediate support lies at $42 area and resistance at $49 area.

Oil (Brent) –

• Brent is relatively weaker performer than WTI. Today’s range - $48-48.6
• Brent is trading at $2.3 per barrel premium to WTI. Likely to widen further in the medium term.
• Brent is trading at $48.5/barrel. Immediate support lies at $46 area and resistance at $50 region.

Natural Gas –   

• Natural gas is the worst performer of the week, likely to slide further. Today’s range $2.91-2.98
• Active Call -Bear trend would push it towards $2.69 per MMBtu
• Natural Gas is currently trading at $2.93/MMBtu. Immediate support lies at $2.92 area & resistance at and $3.10