• 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

    WTI

            +1.01%

    Brent

             +0.55%

    Natural Gas

             -0.76%


               

     

     

     

     

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