Commodities snapshot (energy)

Energy pack is down in today’s trading. Weekly performance at a glance in chart & table.

Oil (WTI) –

• WTI is down today but yet to decisively break below the support. Active call – WTI is likely to drop towards $35 area. Today’s range $46.1-45.3
   
• WTI is currently trading at $45.6/barrel. Immediate support lies at $44.5 area and resistance at 54 area.

Oil (Brent) –

• Brent is down in line with WTI. Today’s range - $47.6-46.7
   
• Brent is trading at $1.4 per barrel premium to WTI.
   
• Brent is trading at $47/barrel. Immediate support lies at $44 area and resistance at $54 region.

Natural Gas –   

• Natural gas is down is flat today. We expect natural gas to go down around $2.2 area. Today’s range $2.68-2.62   

• Natural Gas is currently trading at $2.65/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1