Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is reversing gains as tensions ease in the Korean peninsula. Today’s range $52.8-52.1
• WTI is currently trading at $52.3/barrel. Immediate support lies at $49 area and resistance at $54 area.

Oil (Brent) –

• Brent is giving up spread gains against WTI this week. Today’s range - $55.5-54.7
• Brent is trading at $2.6 per barrel premium to WTI. Likely to widen further in the medium term.
• Brent is trading at $54.9/barrel. Immediate support lies at $52 area and resistance at $59 region.

Natural Gas –   

• Natural gas is down further as it struggled to break key resistance around $3.3 per MMBtu. Today’s range $3.17-3.11
• Resuming long-term bull trend would push the gas price to $4.3 per MMBtu.
• Natural Gas is currently trading at $3.13/MMBtu. Immediate support lies at $2.95 area & resistance at and $3.3