Commodities snapshot (energy)
Source: FxWire Pro - Commentary / 22 Mar 2018 06:18:24 Eastern Standard Time
Energy pack is up in today’s trading. Weekly performance at a glance in chart & table,
Oil (WTI) –
- Oil price is heading higher on Middle East tensions and on speculation that the U.S. might pull out of Iran deal. However, it is rising this week. Today’s range - $64.6-$65.7
- WTI is currently trading at $64.8/barrel. Immediate support lies at $59 area and resistance at $65 area.
Oil (Brent) –
- Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $69.8-68.8
- Brent is trading at $4.1 per barrel premium to WTI.
- Brent is trading at $68.9/barrel. Immediate support lies at $62 area and resistance at $71 region.
Natural Gas –
- Natural gas is down for the week. Today’s range $2.66-2.64
- Natural Gas is currently trading at $2.65/MMBtu. Immediate support lies at $2.45 area & resistance at $2.78, and $2.90
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