Commodities snapshot (energy)

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

Oil (WTI) –

• WTI gained back some grounds after selloffs early in the week. Active call – WTI is likely to drop towards $35 area. Today’s range $39.4-40.1
   
• WTI is currently trading at $39.6/barrel. Immediate support lies at $35.5 area and resistance at $42, $45, $50.2 area.

Oil (Brent) –

• Brent is down in line with WTI. Today’s range - $42.4-41.6
   
• Brent is trading at $2.3 per barrel premium to WTI.
   
• Brent is trading at $41.9/barrel. Immediate support lies at $42 area and resistance at $48 region.

Natural Gas –   

• Natural gas is up today and the best performer of the week, however in red. We expect natural gas to go down around $2.2 area, before it goes to $4.3 area. Today’s range $2.81-2.72               

• Natural Gas is currently trading at $2.8/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1