Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is flat for the day but as it cleared crucial resistance around $52 area on Syria airstrikes, it is grinding higher. Today’s range $52.8-53.3
• WTI is currently trading at $53.1/barrel. Immediate support lies at $49 area and resistance at $54 area.

Oil (Brent) –

• Brent is up in line with the WTI. Brent is testing key resistance area. Today’s range - $55.7-56.2
• Brent is trading at $2.9 per barrel premium to WTI. Likely to widen further in the medium term.
• Brent is trading at $56/barrel. Immediate support lies at $49 area and resistance at $56 region.

Natural Gas –   

• Natural gas suffering a correction from the key resistance around $3.3 area. Today’s range $3.27-3.23
• Resuming long-term bull trend would push gas price to $4.3 per MMBtu.
• Natural Gas is currently trading at $3.24/MMBtu. Immediate support lies at $2.8 area & resistance at and $3.2