Commodities snapshot (energy)

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

Oil (WTI) –

• WTI dropped after hope for a production deal failed. Today’s range $46-44.6
• WTI is currently trading at $44.6/barrel. Immediate support lies at $42 area and resistance at $50.2 area.

Oil (Brent) –

• Brent is much better performer than WTI today. Today’s range - $46-47.3
• Brent is trading at $1.4 per barrel premium to WTI.
• Brent is trading at $46/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas is flat for the day as it continues to gain further momentum above key $3 area. We expect natural gas to go to $4.3 area. New targets $3.7 and $5.5 have been introduced. Today’s range $2.94-3.02  
• Natural Gas is currently trading at $3.01/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at  $3.1, $3.3 and $3.9