Commodities snapshot (energy)

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

Oil (WTI) –

• WTI continuing its decline, after a brief bounce back. Active call – WTI is likely to drop towards $35 area. Today’s range $41.9-40.9
   
• WTI is currently trading at $41.2/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 - $42.8-43.8
   
• Brent is trading at $1.9 per barrel premium to WTI.
   
• Brent is trading at $43.1/barrel. Immediate support lies at $42 area and resistance at $48 region.

Natural Gas –   

• Natural gas is down today after a sizable rise last week. We expect natural gas to go down around $2.2 area, before it goes to $4.3 area. Today’s range $2.83-2.85   

• Natural Gas is currently trading at $2.84/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1