Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is marginally higher today but likely to go down over the coming week. Active call – WTI is likely to drop towards $35 area. Today’s range $44.2-45
   
• WTI is currently trading at $44.9/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 - $46.5-45.8
   
• Brent is trading at $1.5 per barrel premium to WTI.
   
• Brent is trading at $46.4/barrel. Immediate support lies at $44 area and resistance at $54 region.

Natural Gas –   

• Natural gas is down is flat today. We expect natural gas to go down around $2.2 area. Today’s range $2.65-2.75                        
• Natural Gas is currently trading at $2.71/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1