Commodities snapshot (energy)

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

Oil (WTI) –

• WTI remain under pressure due to fear of rising production in the United States. Today’s range $51.8-52.4
• With an OPEC and non-OPEC deal done, the oil price is likely to reach $59 and $68 per barrel.
• WTI is currently trading at $52.1/barrel. Immediate support lies at $49 area and resistance at $57 area.

Oil (Brent) –

• Brent is up in line with the WTI. Today’s range - $54.7-55.4
• Brent is trading at $3 per barrel premium to WTI. Likely to widen further.
• Brent is trading at $55.1/barrel. Immediate support lies at $52 area and resistance at $58 region.

Natural Gas –   

• Natural gas remains under pressure due to improvement in weather. Sell Natural gas targeting $2.7 per MMBtu. Today’s range $3.11-3.18
• Natural Gas is currently trading at $3.17/mmbtu. Immediate support lies at $2.6, $3.1 area & resistance at  $3.5 and $3.75