Commodities snapshot (energy)

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

Oil (WTI) –

• WTI failed to gain on the news that Iraq supports production freeze. Today’s range $46.2-47.5
   
• WTI is currently trading at $46.5/barrel. Immediate support lies at $42 area and resistance at $50.2 area.

Oil (Brent) –

• Brent is much worse performer than WTI today. Today’s range - $49.8-47.2
   
• Brent is trading at $1.9 per barrel premium to WTI.
   
• Brent is trading at $48.4/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –

• Natural gas is the worst performer today. We expect natural gas to go to $4.3 area. Today’s range $2.81-2.94                       
• Natural Gas is currently trading at $2.84/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1