Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is up today after a big selloff last week. Today’s range $45.2-45.9
• Active call – add short positions to the existing short call targeting $38 per barrel.
• WTI is currently trading at $45.7/barrel. Immediate support lies at $44 area and resistance at $48 area.

Oil (Brent) –

• Brent is up in line with WTI today. Today’s range - $47.9-48.6
• Brent is trading at $2.7 per barrel premium to WTI. Likely to widen further in the medium term.
• Brent is trading at $48.4/barrel. Immediate support lies at $44 area and resistance at $49 region.

Natural Gas –   

• Natural gas is the worst performer of the week. Today’s range $2.84-2.89
• Active Call -Bear trend would push it towards $2.69 per MMBtu
• Natural Gas is currently trading at $2.87/MMBtu. Immediate support lies at $2.97 area & resistance at and $3.1   

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