Commodities snapshot (energy)
Source: FxWire Pro - Commentary / 23 Jan 2018 08:49:52 Eastern Standard Time
Energy pack is mixed 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 - $63.7-$64.1
- WTI is currently trading at $63.9/barrel. Immediate support lies at $62 area and resistance at $66 area.
Oil (Brent) –
- Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $69.6-69.1
- Brent is trading at $5.5 per barrel premium to WTI.
- Brent is trading at $69.4/barrel. Immediate support lies at $67 area and resistance at $72 region.
Natural Gas –
- Natural gas remains upbeat on a sharper slid in inventories. Today’s range $3.34-3.24
- Natural Gas is currently trading at $3.32/MMBtu. Immediate support lies at $3.07, $3.2 area & resistance at and $3.45 and at $3.35
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