Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is up on sentiment as Goldman Sachs warns of deficit in oil market due to supply cut and outages. Today’s range $48.5 -47.5

• WTI is currently trading at $48/barrel. Immediate support lies at $42.5 area and resistance at 49 area.

Oil (Brent) –

• Brent is up in line with WTI.  Today’s range - $48.5-49.5

• Brent is at $ 1/barrel premium to WTI.
   
• Brent is trading at $48.8/barrel. Immediate support lies at $44, $40.5 area and resistance at $51, $54 region.

Natural Gas –   

• Natural gas is up today but worst performer this week. Today’s range $2.02-2.08

• Natural Gas is currently trading at $2.07/mmbtu. Immediate support lies at $2, $1.86 area & resistance at 2.3 and $2.48