• Commodities snapshot (energy)

    Source: FxWire Pro - Commentary / 19 Jul 2018 11:15:25   America/New_York

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

    Oil (WTI) –

    • Oil price is recovering again after a long correction.  Today’s range - $67.8-$70.2
    • WTI is currently trading at $69.6/barrel. Immediate support lies at $67 area and resistance at $75 area.

    Oil (Brent) –

    • Brent remains elevated over WTI due to higher demand, geo-political tension and OPEC agreement. Today’s range - $71.8-73.8
    • Brent is trading at $4.5 per barrel premium to WTI.
    • Brent is trading at $73.1/barrel. Immediate support lies at $70 area and resistance at $79 region.

    Natural Gas –   

    • Natural gas heading sharply lower as the bulls fail to clear resistance around $3 area. Today’s range $2.69-$2.78
    • Natural Gas is currently trading at $2.77/MMBtu. Immediate support lies at $2.72 area & resistance at $2.92, $3.10

    WTI

            -1.97%

    Brent

             -2.92%

    Natural Gas

             +0.73%


               

     

     

     

     

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