Commodities snapshot (energy)

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

Oil (WTI) –

• WTI continuing its decline on the fear of a supply glut along with fading hope that production freeze would take place. Today’s range $46.4-45.7
   
• WTI is currently trading at $45.9/barrel. Immediate support lies at $42 area and resistance at $50.2 area.

Oil (Brent) –

• Brent’s performance improved since yesterday compared to WTI. Today’s range - $48.8-48
   
• Brent is trading at $2.3 per barrel premium to WTI.
   
• Brent is trading at $48.2/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas is flat today but the best performer this week. We expect natural gas to go to $4.3 area. Today’s range $2.87-2.8                          

• Natural Gas is currently trading at $2.86/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1