Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is down as higher gasoline inventory weighs. Active call – WTI is likely to drop towards $35 area. Today’s range $44.4-43.6
   
• WTI is currently trading at $43.5/barrel. Immediate support lies at $42.8, $35.5 area and resistance at $50.2, $52 area.

Oil (Brent) –

• Brent is down in line with WTI. Today’s range - $45-45.9
   
• Brent is trading at $1.6 per barrel premium to WTI.
   
• Brent is trading at $45.1/barrel. Immediate support lies at $44 area and resistance at $54 region.

Natural Gas –   

• Natural gas is marginally down today. We expect natural gas to go down around $2.2 area, before it goes to $4.3 area. Today’s range $2.76-2.82   

• Natural Gas is currently trading at $2.77/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1