Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is down today after sharp rise yesterday as inventory hangover takes toll. Active call – WTI is likely to drop towards $35 area. Today’s range $46.1 -46.7
   
• WTI is currently trading at $46.3/barrel. Immediate support lies at $44.5 area and resistance at 54 area.

Oil (Brent) –

• Brent is in much worse performer than WTI. Today’s range - $47.5-48.3
   
• Brent is trading at $1.5 per barrel premium to WTI.
   
• Brent is trading at $47.8/barrel. Immediate support lies at $44 area and resistance at $54 region.

Natural Gas –   

• Natural gas is up today but likely to drop lower and test support around $2.5. Today’s range $2.8-2.72                 

• Natural Gas is currently trading at $2.76/mmbtu. Immediate support lies at $2.4, $2.7 area & resistance at 2.95 and $3.1