Commodities snapshot (energy)

Energy pack is trading in consolidation with downside bias today. Weekly performance at a glance in chart & table.

Oil (WTI) -

• WTI is down today after gains yesterday. Today's range $38.5-39.8
  
• EIA report showed drop in inventory by 5.5 million barrels.
  
  
• WTI is currently trading at $39/barrel. Immediate support lies at $35 area and resistance at $43 area.

Oil (Brent) -

• Brent dropped along with WTI, however volatility remains relatively low. Today's range - $43.8-42.8.
  
  
• Brent-WTI spread dropped to $4.2/barrel.
  
  
• Brent is trading at $43.2/barrel. Immediate support lies at $40 area and resistance at $47 region.

Natural Gas -

• Natural gas finding resistance around $2.7/mmbtu and likely to drop further. Today's range $2.72-2.67.
  
  
• Price likely to drop to $2.35/mmbtu, since support cleared.
  
  
• Natural Gas is currently trading at $2.69/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.75, $2.95, $3.04, $3.32.