Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is down today and likely to go down further. So far the decline has been gradual. Active call – WTI is likely to drop towards $35 area. Today’s range $44.5-45.7
   
• WTI is currently trading at $44.7/barrel. Immediate support lies at $44.5 area and resistance at 54 area.

Oil (Brent) –

• Brent is down in line with WTI. Today’s range - $47-45.8
   
• Brent is trading at $1.4 per barrel premium to WTI.
   
• Brent is trading at $46.1/barrel. Immediate support lies at $44 area and resistance at $54 region.

Natural Gas –   

• Natural gas is down and likely to go down further. It has been trying to form a base around $2.65 area. Today’s range $2.74-2.66                        

• Natural Gas is currently trading at $2.67/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1