Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is up as API report showed sharp drop in inventory. Today’s range $48.9 -49.5

• WTI is currently trading at $49.2/barrel. Immediate support lies at $44.5 area and resistance at 54 area.

Oil (Brent) –

• Brent is up but relatively worse performer than in recent days.  Today’s range - $49-49.4

• Brent is at $ 0.1/barrel premium to WTI.
   
• Brent is trading at $49.3/barrel. Immediate support lies at $44, $40.5 area and resistance at $51, $54 region.

Natural Gas –   

• Natural gas dropped below $2 support area. Today’s range $1.97-2.01

• Natural Gas is currently trading at $1.98/mmbtu. Immediate support lies at $1.86 area & resistance at 2.12 and $2.3