Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is rising again as OPEC assured on the deal. Today’s range $50.6-51.2
• Buy WTI targeting $53.5 area. Target extended to $68
• WTI is currently trading at $51.1/barrel. Immediate support lies at $44 area and resistance at $54.2 area.

Oil (Brent) –

• Brent is up in line with WTI today. Today’s range - $52-52.5
• Brent is trading at $1.7 per barrel premium to WTI.
• Brent is trading at $52.5/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas is down today, worst performer of the week. We expect natural gas to go to $4.3 area. New targets of $3.7 and $5.5 have been introduced. Today’s range $3.26-3.17
• Natural Gas is currently trading at $3.18/mmbtu. Immediate support lies at $3.1, $2.8 area & resistance at  $3.3 and $3.9