Commodities snapshot (energy)

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

Oil (WTI) –

• WTI continues to head downwards as the dollar rebounded and the supply glut persists. Today’s range $44.7-47.3
   
• WTI is currently trading at $46.9/barrel. Immediate support lies at $42 area and resistance at $50.2 area.

Oil (Brent) –

• Brent is a slightly better performer than WTI today. Today’s range - $49.6-47.2
   
• Brent is trading at $2.3 per barrel premium to WTI.
   
• Brent is trading at $49.2/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas is up today, contrasting with gold. We expect natural gas to go to $4.3 area. Today’s range $2.8-2.91                                 

• Natural Gas is currently trading at $2.9/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1