Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is struggling to keep up the price gains post inventory data, which showed the biggest drawdown of this century. Today’s range $46.4-47.4
   
• WTI is currently trading at $46.5/barrel. Immediate support lies at $42 area and resistance at $50.2 area.

Oil (Brent) –

• Brent is down in line with WTI. Today’s range - $49.7-48.6
   
• Brent is trading at $2.2 per barrel premium to WTI.
   
• Brent is trading at $48.7/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas is higher today but the worst performer of the week. We expect natural gas to go to $4.3 area. Today’s range $2.78-2.84               

• Natural Gas is currently trading at $2.82/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1