Commodities snapshot (energy)

Energy pack is up today over escalating violence in Middle East. Weekly performance at a glance in chart & table.

Oil (WTI) -

• WTI is giving up lot of its yesterday's gains as risk aversion over Middle East proved to be short lived. Today's range $40.7-42


• WTI is currently trading at $41.2/barrel. Immediate support lies at 38 area and resistance at $45, $47.5 area.

Oil (Brent) -

• Brent s down and much worse performer than WTI. Today's range - $45.1-43.5
   
• Brent-WTI spread dropped to $2.8/barrel from $3.4/barrel on Friday.
   
• Brent is trading at $44/barrel. Immediate support lies at $42, $38 area and resistance at $48, $50.5, 54 region.

Natural Gas -   

• Natural gas gave up more of its yesterday's gains as price started falling in New York session. Today's range $2.27-2.35

• Buy Natural gas @2.4, targeting $3.15/mmbtu and stop loss at $2.1/mmbtu.
• Natural Gas is currently trading at $2.34/mmbtu. Immediate support lies at $2, $1.85 area & resistance at $2.4.