Commodities snapshot (energy)
Source: FxWire Pro - Commentary / 21 Jun 2018 09:28:46 America/New_York
Energy pack is up in today’s trading. Weekly performance at a glance in chart & table,
Oil (WTI) –
- Oil price struggling to move higher as Russia and Saudi Arabia considers cap easing to the tune of 1 million barrels per day and as U.S. production continues to rise. The focus is on Friday’s OPEC meeting. Today’s range - $64.3-$65.8
- WTI is currently trading at $65/barrel. Immediate support lies at $61 area and resistance at $67 area.
Oil (Brent) –
- Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $73-74.7
- Brent is trading at $8.5 per barrel premium to WTI.
- Brent is trading at $73.5/barrel. Immediate support lies at $72 area and resistance at $77 region.
Natural Gas –
- Natural gas testing sellers around $3 area. Today’s range $2.96-$3.00
- Natural Gas is currently trading at $3.00/MMBtu. Immediate support lies at $2.85 area 8& resistance at $3.10
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