Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is trying to recover ground after sharp drop yesterday. Active call – WTI is likely to drop towards $35 area. Today’s range $44.8-45.9
   
• WTI is currently trading at $45.7/barrel. Immediate support lies at $44.5 area and resistance at 54 area.

Oil (Brent) –

• Brent is up in line with WTI. Today’s range - $47.5-46.3
   
• Brent is trading at $1.6 per barrel premium to WTI.
   
• Brent is trading at $47.3/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 $2.78-2.72               

• 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