Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is down despite the fact that Iran cautiously supported the freeze deal. Today’s range $45.6-43.8
   
• WTI is currently trading at $44/barrel. Immediate support lies at $42 area and resistance at $50.2 area.

Oil (Brent) –

• Brent is down in line with WTI. Today’s range - $46.3-48
   
• Brent is trading at $2.5 per barrel premium to WTI.
   
• Brent is trading at $46.5/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas is down today and the worst performer of the week. We expect natural gas to go to $4.3 area. Today’s range $2.77-2.73               

• Natural Gas is currently trading at $2.74/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1