Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is continuing its gains on OPEC production freeze optimism. Today weaker dollar is supporting the price. Today’s range $45.3-46.2
   
• WTI is currently trading at $46/barrel. Immediate support lies at $35.5 area and resistance at $45, $50.2 area.

Oil (Brent) –

• Brent is up in line with the WTI. Today’s range - $48.8-47.9
   
• Brent is trading at $2.5 per barrel premium to WTI.
   
• Brent is trading at $48.5/barrel. Immediate support lies at $42 area and resistance at $48 region.

Natural Gas –   

• Natural gas is flat today and the weakest performer of the week. We expect natural gas to go down around $2.4 area, before it goes to $4.3 area. Today’s range $2.55-2.6                        
• Natural Gas is currently trading at $2.59/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1