Commodities snapshot (energy)
Source: FxWire Pro - Commentary / 23 Jul 2018 06:47:44 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 amid geopolitical tensions. Today’s range - $67.9-$69.1
- WTI is currently trading at $68.9/barrel. Immediate support lies at $67 area and resistance at $75 area.
Oil (Brent) –
- Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $72.7-74.3
- Brent is trading at $5.1 per barrel premium to WTI.
- Brent is trading at $74/barrel. Immediate support lies at $70 area and resistance at $79 region.
Natural Gas –
- Natural gas likely to drop towards $2.5 area. Today’s range $2.72-$2.76
- Natural Gas is currently trading at $2.73/MMBtu. Immediate support lies at $2.72 area & resistance at $2.92, $3.10
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