Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is down as OPEC supplies increase in September. Today’s range $51.2 -50.4
• Active call – Buy targeting $56 per barrel
• WTI is currently trading at $50.6/barrel. Immediate support lies at $49 area and resistance at $53 area.

Oil (Brent) –

• Brent is underperforming WTI this week. Today’s range - $56.2-56.9
• Brent is trading at $5.8 per barrel premium to WTI.
• Brent is trading at $56.4/barrel. Immediate support lies at $54 area and resistance at $59 region.

Natural Gas –   

• Natural gas bulls fade as Hurricane Nate impact limited. Today’s range $2.94-2.89
• Natural Gas is currently trading at $2.93/MMBtu. Immediate support lies at $2.75 area & resistance at and $2.96

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