Commodities snapshot (energy)

Energy pack is trading in green today. Weekly performance at a glance in chart & table.

Oil (WTI) -

• WTI is sharply gaining today as risk appetite improved sharply. Today's range $38.8-42.3
  
• Global equities rally and hope of higher growth in US provided additional boost.
  
  
• WTI is currently trading at $41.9/barrel. Immediate support lies at $35 area and resistance at $43 area.

Oil (Brent) -

• Brent rose along with WTI on global risk recovery. Today's range - $43.6-46.9.
  
  
• Brent-WTI spread rose to $4.6/barrel. Further rise is likely.
  
  
• Brent is trading at $46.4/barrel. Immediate support lies at $40 area and resistance at $48 region.

Natural Gas -

• Natural gas continues to find resistance around $2.7/mmbtu and likely to drop further, unless resistance cleared. Today's range $2.72-2.63.
  
  
• Price likely to drop to $2.35/mmbtu, since support cleared.
  
  
• EIA report showed inventory rise of 69 billion cubic feet, higher than prior 53 billion cubic feet.
  
  
• 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.