Commodities snapshot (energy)

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

Oil (WTI) -

• WTI is sharply down today as key support at $43/barrel remains broken. Today's range $43.4-41.6
   
• Latest OPEC report showed cartel production at 31.4 million barrels/day.
   
• WTI is currently trading at $41.7/barrel. Immediate support lies at 38 area and resistance at $45, $47.5 area.

Oil (Brent) -

• Brent is down in line with WTI today, relatively worse performer. Today's range - $46-47.7
   
• Brent-WTI spread down from $3/barrel to $2.8/barrel.
   
• Brent is trading at $44.4/barrel. Immediate support lies at $42 area and resistance at $48, $50.5, 54 region.

Natural Gas -   

• Natural gas dropped further, failing to break key resistance around $2.4/mmbtu. Today's range $2.22-2.31
• Natural Gas is currently trading at $2.25/mmbtu. Immediate support lies at $2, $1.85 area & resistance at $2.4.