Commodities snapshot (energy)

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

Oil (WTI) –

• Despite OPEC deal and Middle East tensions, oil price continues to decline on supply glut fear  Today’s range $44.2-45
• WTI is currently trading at $44.9/barrel. Immediate support lies at $42 area and resistance at $49 area.

Oil (Brent) –

• Brent is down in line with WTI. Today’s range - $46.7-47.6
• Brent is trading at $2.7 per barrel premium to WTI. Likely to widen further in the medium term.
• Brent is trading at $47.6/barrel. Immediate support lies at $46 area and resistance at $50 region.

Natural Gas –   

• Natural gas turned positive for the week. Today’s range $3.03-3.09
• Active Call -Bear trend would push it towards $2.69 per MMBtu
• Natural Gas is currently trading at $3.05/MMBtu. Immediate support lies at $2.92 area & resistance at and $3.10