Commodities snapshot (energy)

Energy pack is mixed today, while oil is down, gas is up. Weekly performance at a glance in chart & table.

Oil (WTI) -

• WTI is in back foot today as risk aversion in Middle East fading and US inventory continues to rise. Today's range $41.9-43.2
  
  
• WTI is currently trading at $42/barrel. Immediate support lies at 38 area and resistance at $45, $47.5 area.

Oil (Brent) -

• Brent is relatively better performer today. Today's range - $45 -46.5
• Brent-WTI spread rose by $0.1/barrel to $3.3/barrel.
  
  
• Brent is trading at $45.3/barrel. Immediate support lies at $42, $38 area and resistance at $48, $50.5, 54 region.

Natural Gas -   

• Natural gas is sharply up today speculating over inventory drawdown. Today's range $2.18-2.32

• Buy Natural gas @2.4 and @2.2, targeting $3.15/mmbtu and stop loss at $1.9/mmbtu.
  
• Natural Gas is currently trading at $2.29/mmbtu. Immediate support lies at $2, $1.85 area & resistance at $2.4.