Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is back above $50 area on OPEC optimism. Today’s range $49.5 -50.9
• Active call – Buy targeting $56 per barrel
• WTI is currently trading at $50.8/barrel. Immediate support lies at $49 area and resistance at $53 area.

Oil (Brent) –

• Brent is underperforming WTI this week. Today’s range - $55-55.8
• Brent is trading at $5.9 per barrel premium to WTI.
• Brent is trading at $56.7/barrel. Immediate support lies at $54 area and resistance at $59 region.

Natural Gas –   

• Natural gas is heading to test former support turned resistance around $2.89rea. Today’s range $2.90-2.83
• Natural Gas is currently trading at $2.88/MMBtu. Immediate support lies at $2.75 area & resistance at and $2.96

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