Commodities snapshot (energy)

Energy pack is in red today. Weekly performance at a glance in chart & table.

Oil (WTI) -

• WTI is marginally down as OPEC report showed cartel producing at record pace. Today's range $36.5-37.5
  
  
• WTI is currently trading at $36.9/barrel. Immediate support lies at 35 area and resistance at $42, $45, $47.5 area.

Oil (Brent) -

• Brent is relatively better performer than WTI. Today's range - $40.7 -39.8
  
  
• Brent-WTI spread dropped by $0.6/barrel to $3.1/barrel, since last night.
  
  
• Brent is trading at $40/barrel. Immediate support lies at $38 area and resistance at $45, $50.5, 54 region.

Natural Gas -   

• Natural gas is down today, focus is on EIA report to be released later. Today's range $2.04-2.08

• Buy Natural gas @2.4 and @2.2, targeting $3.15/mmbtu and stop loss at $1.9/mmbtu. However the call might get soured due to heavy sentiment sell.
  
• Natural Gas is currently trading at $2.04/mmbtu. Immediate support lies at $2, $1.85 area & resistance at $2.4.