Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is continuing its struggle as traders remain unconvinced despite OPEC deal. Down for the week so far. Today’s range $49.1-48.3
• WTI is currently trading at $48.6/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 - $51.5-50.6
• Brent is trading at $2.3 per barrel premium to WTI. Likely to widen further in the medium term.
• Brent is trading at $50.9/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 $3.13-3.07
• Resuming long-term bull trend would push the gas price to $4.3 per MMBtu. Bear trend would push it towards $2.69
• Natural Gas is currently trading at $3.12/MMBtu. Immediate support lies at $3.15 area & resistance at and $3.5