• Commodities snapshot (energy)

    Source: FxWire Pro - Commentary / 24 May 2018 11:00:47   America/New_York

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

    Oil (WTI) –

    • Oil price remains elevated as President Trump moves the U.S. out of the Iran deal. However, struggling as the dollar gains. Today’s range - $72-$70.5
    • WTI is currently trading at $71/barrel. Immediate support lies at $68 area and resistance at $74 area.

    Oil (Brent) –

    • Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $79.8-78.5
    • Brent is trading at $8 per barrel premium to WTI.
    • Brent is trading at $79/barrel. Immediate support lies at $75 area and resistance at $82 region.

    Natural Gas –   

    • Natural gas is continuing its recovery after finding support around $2.5 area. The best performer of the week. Today’s range $2.9-2.94
    • Natural Gas is currently trading at $2.93/MMBtu. Immediate support lies at $2.62 area & resistance at $2.85, and $2.90

    WTI

            -0.42%

    Brent

             +0.51%

    Natural Gas

             +3.67%


               

     

     

     

     

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