• Commodities snapshot (energy)

    Source: FxWire Pro - Commentary / 23 Nov 2017 08:38:15   Eastern Standard Time

    Energy pack is down in today’s trading. Weekly performance at a glance in chart & table,

    Oil (WTI) –

    • Despite the sharp decline over the past weeks, the oil price remains upbeat on Middle East tensions and approaching OPEC meeting. Today’s range - $57.7-$58.1
    • Active call – Target reached at $56 per barrel
    • WTI is currently trading at $58/barrel. Immediate support lies at $54 area and resistance at $60 area.

    Oil (Brent) –

    • Brent remains elevated over WTI due to higher demand, geo-political tension and OPEC agreement but much worse since last week. Today’s range - $62.8-63.3
    • Brent is trading at $5.1 per barrel premium to WTI.
    • Brent is trading at $63.1/barrel. Immediate support lies at $59 area and resistance at $65 region.

    Natural Gas –   

    • Natural gas is continuing range trade despite several breakout attempts. Today’s range $2.99-2.92           
    • Natural Gas is currently trading at $2.93/MMBtu. Immediate support lies at $2.96 area & resistance at and $3.12

    WTI

            +2.46%

    Brent

            +0.65%

    Natural Gas

             -6.33%


               

     

     

     

     

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