Commodities snapshot (energy)

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

Oil (WTI) –

• WTI remains upbeat as Saudi oil minister vows to end supply glut. EIA report showing inventory buildup exerting some selling pressure. Today’s range $52.3 -51.9
• Active call – Buy targeting $56 per barrel
• WTI is currently trading at $52.2/barrel. Immediate support lies at $49 area and resistance at $53 area.

Oil (Brent) –

• Brent is up in line with the WTI. Today’s range - $58.1-58.5
• Brent is trading at $6.2 per barrel premium to WTI.
• Brent is trading at $58.4/barrel. Immediate support lies at $54 area and resistance at $59 region.

Natural Gas –   

• Natural gas continuing its consolidation in a narrow range. Today’s range $2.86-2.95
• Natural Gas is currently trading at $2.88/MMBtu. Immediate support lies at $2.75 area & resistance at and $3.12

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