Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is struggling to make gains despite OPEC agreement. Down for the week so far. Today’s range $49-50.1
• WTI is currently trading at $49.1/barrel. Immediate support lies at $48 area and resistance at $52 area.

Oil (Brent) –

• Brent is down in line with the WTI this week. Today’s range - $52.4-51.2
• Brent is trading at $2.2 per barrel premium to WTI. Likely to widen further in the medium term.
• Brent is trading at $51.3/barrel. Immediate support lies at $50 area and resistance at $56 region.

Natural Gas –   

• Natural gas is the worst performer of the week. Today’s range $3.16-3.23
• Resuming long-term bull trend would push gas price to $4.3 per MMBtu.
• Natural Gas is currently trading at $3.17/MMBtu. Immediate support lies at $3.15 area & resistance at and $3.5