Commodities snapshot (energy)

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

Oil (WTI) –

• WTI continues to recover grounds as refineries restart in Texas. However, approaching Hurricane Irma is pushing WTI lower as it might reduce demand. Today’s range $48.6 -49.4
• Active call – Buy targeting $56 per barrel
• WTI is currently trading at $48.9/barrel. Immediate support lies at $45 area and resistance at $52 area.

Oil (Brent) –

• Brent remains elevated over greater demand compared to WTI. Today’s range - $53.8-54.7
• Brent is trading at $5.4 per barrel premium to WTI.
• Brent is trading at $54.3/barrel. Immediate support lies at $48 area and resistance at $54 region.

Natural Gas –   

• Natural gas is recovering as Irma approaches. Today’s range $2.99-3.03
• Active Call -Bear trend would push it towards $2.52 per MMBtu
• Natural Gas is currently trading at $3.02/MMBtu. Immediate support lies at $2.87 area & resistance at and $3.02 (testing)   

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