Commodities snapshot (energy)

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

Oil (WTI) –

• WTI remain upbeat but trading cautiously ahead of the OPEC meeting. Today’s range $51.2-51.9
• WTI is currently trading at $51.3/barrel. Immediate support lies at $44 area and resistance at $52 area.

Oil (Brent) –

• Brent is a weaker performer than the WTI this week. Today’s range - $53.9-54.6
• Brent is trading at $2.8 per barrel premium to WTI. Likely to widen further in the medium term.
• Brent is trading at $54.1/barrel. Immediate support lies at $50 area and resistance at $56 region.

Natural Gas –   

• Natural gas is down further today but the worst performer of the week. Today’s range $3.26-3.17
• Resuming long-term bull trend would push the gas price to $4.3 per MMBtu.
• Natural Gas is currently trading at $3.18/MMBtu. Immediate support lies at $3.15 area & resistance at and $3.5