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2017.04.2609:20:00UTC+00Commodities Snapshot (energy)

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

Oil (WTI) –

  • WTI is grinding lower as the speculators cover their positions. We expect the WTI to reach $43 per barrel. Today’s range $49.6-48.9
  • WTI is currently trading at $49.1/barrel. Immediate support lies at $49 area and resistance at $54 area.

Oil (Brent) –

  • Brent is a marginally better performer than WTI this week. Today’s range - $52.2-51.4
  • Brent is trading at $2.5 per barrel premium to WTI. Likely to widen further in the medium term.
  • Brent is trading at $51.6/barrel. Immediate support lies at $52 area and resistance at $59 region.

Natural Gas –   

  • Natural gas sharply recovered from the earlier loss. Today’s range $3.05-3.22
  • Resuming long-term bull trend would push the gas price to $4.3 per MMBtu.
  • Natural Gas is currently trading at $3.20/MMBtu. Immediate support lies at $2.95 area & resistance at and $3.3   

WTI

        -1.05%

Brent

        -0.64%

Natural Gas

        +3.56%


           

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