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
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