Commodities snapshot (energy)

Energy pack recovered sharply today. Weekly performance at a glance in chart & table.

Oil (WTI) -

• WTI bounced back as EIA data pointed out further drop in inventory by 4.2 million barrels. Today's range $47.4-49.5
  
• WTI jump back from $46 area was expected, however is likely to fall towards $42 area. The drop might extend below $40 area. $45 will serve as interim support.
  
  
• WTI is currently trading at $49.3/barrel. Immediate support lies at $42 and resistance at $54

Oil (Brent) -

• Brent is much worse performer than WTI.
• Brent-WTI spread dropped by 90 cents since yesterday, currently trading at $4.7/barrel.

• Next target for Brent is around $51/barrel as support around $55/barrel got cleared. Jump back likely to remain curbed below $56/barrel.
  
  
• Brent is trading at $54/barrel. Immediate support lies at $50 area and resistance at $57 region.

Natural Gas -

• Natural gas bulls might use FOMC's push and tomorrow's inventory to break $2.95 resistance area. Today's range $2.85-2.77.
  
  
• Price might reach as low as $2.35 if it clears $2.7 mark, whereas bulls seem to be in way to test $2.95 area once more.
  
  
• Natural Gas is currently trading at $2.85/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.95, $3.04, $3.32.