Commodities snapshot (energy)
Source: FxWire Pro - Commentary / 16 Jan 2018 08:11:30 Eastern Standard Time
Energy pack is down in today’s trading. Weekly performance at a glance in chart & table,
Oil (WTI) –
- Oil price remains elevated over geopolitical tensions surrounding Iran and Venezuela and as inventories slide Today’s range - $64.8-$63.7
- WTI is currently trading at $64.1/barrel. Immediate support lies at $62 area and resistance at $66 area.
Oil (Brent) –
- Brent remains elevated over WTI due to higher demand, geo-political tension and OPEC agreement. Today’s range - $70.3-69.1
- Brent is trading at $5.4 per barrel premium to WTI.
- Brent is trading at $69.5/barrel. Immediate support lies at $62 area and resistance at $70 region.
Natural Gas –
- Natural gas struggling to gain as winter end nears. Today’s range $3.04-3.20
- Natural Gas is currently trading at $3.05/MMBtu. Immediate support lies at $2.89 area & resistance at and $3.21 and at $3.12
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