Commodities snapshot (energy)

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

Oil (WTI) –

• WTI gained back some grounds and on its way to close positive for the week. Active call – WTI is likely to drop towards $35 area. Today’s range $41.4-42.1
   
• WTI is currently trading at $41.7/barrel. Immediate support lies at $35.5 area and resistance at $42, $45, $50.2 area.

Oil (Brent) –

• Brent has been a much better performer than WTI this week . Today’s range - $44.5-43.7
   
• Brent is trading at $2.4 per barrel premium to WTI.
   
• Brent is trading at $44.1/barrel. Immediate support lies at $42 area and resistance at $48 region.

Natural Gas –   

• Natural gas is down this week as higher inventory weighs. We expect natural gas to go down around $2.2 area, before it goes to $4.3 area. Today’s range $2.82-2.86   

• Natural Gas is currently trading at $2.78/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1