Commodities snapshot (energy)

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

Oil (WTI) –

• WTI declined more than 2 percent this week. Sharply down for the week so far. Today’s range $46.7-48.2
• WTI is currently trading at $47.2/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 - $48.9-50.5
• Brent is trading at $2.3 per barrel premium to WTI. Likely to widen further in the medium term.
• Brent is trading at $49.5/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 $2.98-3.05
• Active Call -Bear trend would push it towards $2.69 per MMBtu
• Natural Gas is currently trading at $3.03/MMBtu. Immediate support lies at $3.15 area & resistance at and $3.5