Commodities snapshot (energy)

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

Oil (WTI) -

• WTI gained sharply from interim support area of $43.3/barrel. Today's range $45.6-48.5
  
• Next target area is $53/barrel.
  
  
• WTI is currently trading at $46.7/barrel. Immediate support lies at $43.3, $41.5 area and resistance at $50 area.

Oil (Brent) -

• Brent rose along with WTI, however relatively worse performer than today. Today's range - $49.8-52.5.
  
  
• Brent-WTI dropped to $3.9/barrel. Further contraction possible.
  
  
• Brent is trading at $50.6/barrel. Immediate support lies at $48 area and resistance at $54.5, 59 region.

Natural Gas -

• Natural gas jumped back sharply as $2.63 area provided necessary support. Today's range $2.74-2.63.
  
  
• EIA report showed inventory rose by 94 billion cubic feet.
  
  
• Natural Gas is currently trading at $2.72/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.75, $2.95, $3.04, $3.32.