• 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%


               

     

     

     

     

    © FxWire Pro 2018. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.
Share on,