Commodities snapshot (energy)

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

Oil (WTI) –

• WTI marginally down, despite weakness in the dollar as large gasoline inventory weighs. Active call – WTI is likely to drop towards $35 area. Today’s range $41.6-42.2
   
• WTI is currently trading at $41.8/barrel. Immediate support lies at $35.5 area and resistance at $45, $50.2, $52 area.

Oil (Brent) –

• Brent is down in line with WTI. Today’s range - $42.8-43.7
   
• Brent is trading at $1.4 per barrel premium to WTI.
   
• Brent is trading at $43.2/barrel. Immediate support lies at $44 area and resistance at $54 region.

Natural Gas –   

• Natural gas is best performer today and this week but in red like oil. We expect natural gas to go down around $2.2 area, before it goes to $4.3 area. Today’s range $2.64-2.7     

• Natural Gas is currently trading at $2.69/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1