Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is continuing its gains after a big rise last week. Today’s range $44.4-45.2
   
• WTI is currently trading at $44.7/barrel. Immediate support lies at $35.5 area and resistance at $45, $50.2 area.

Oil (Brent) –

• Brent is up in line with the WTI. Today’s range - $46.8-47.7
   
• Brent is trading at $2.5 per barrel premium to WTI.
   
• Brent is trading at $47.2/barrel. Immediate support lies at $42 area and resistance at $48 region.

Natural Gas –   

• Natural gas is down today and likely to go down further. We expect natural gas to go down around $2.4 area, before it goes to $4.3 area. Today’s range $2.55-2.6     

• Natural Gas is currently trading at $2.57/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1