Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is finally gaining some grounds after finding support around $43 area, a break below that level would open up sub 40s for WTI. Today’s range $44.4-45.1
• WTI is currently trading at $44.8/barrel. Immediate support lies at $42 area and resistance at $50.2 area.

Oil (Brent) –

• Brent is much worse performer than WTI this week. Today’s range - $46.1-46.9
• Brent is trading at $1.8 per barrel premium to WTI.
• Brent is trading at $46.6/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas has broken above key resistance area around $2.95 area. We expect natural gas to go to $4.3 area. New targets $3.7 and $5.5 have been introduced. Today’s range $3.1-3.05 
• Natural Gas is currently trading at $3.07/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1