Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is down as Hurricane Harvey traps oil as refineries shut down. Today’s range $46.4 -46
• Active call – Buy targeting $56 per barrel
• WTI is currently trading at $46.1/barrel. Immediate support lies at $45 area and resistance at $52 area.

Oil (Brent) –

• Brent is a much better performer than WTI since last two weeks thanks to OPEC deal and Hurricane Harvey. Today’s range - $52-51.3
• Brent is trading at $5.5 per barrel premium to WTI.
• Brent is trading at $51.6/barrel. Immediate support lies at $48 area and resistance at $54 region.

Natural Gas –   

• Natural gas is testing key resistance around $3 area. Hurricane Harvey is pushing prices higher. Today’s range $2.99-2.94
• Active Call -Bear trend would push it towards $2.52 per MMBtu
• Natural Gas is currently trading at $2.95/MMBtu. Immediate support lies at $2.87 area & resistance at and $3.02   

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