Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is up in this week’s trading as operating rigs in US declines for the first time in 24 weeks and production declines. It is down today.  Today’s range $46.1-47.3
• WTI is currently trading at $46.3/barrel. Immediate support lies at $44 area and resistance at $48 area.

Oil (Brent) –

• Brent is down in line with WTI today. Today’s range - $49.8-48.7
• Brent is trading at $2.6 per barrel premium to WTI. Likely to widen further in the medium term.
• Brent is trading at $48.9/barrel. Immediate support lies at $44 area and resistance at $49 region.

Natural Gas –   

• Natural gas is the worst performer of the week. Today’s range $2.94-3.04
• Active Call -Bear trend would push it towards $2.69 per MMBtu
• Natural Gas is currently trading at $2.96/MMBtu. Immediate support lies at $2.97 area & resistance at and $3.1   

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