Commodities snapshot (energy)
Source: FxWire Pro - Commentary / 14 Aug 2018 10:29:50 America/New_York
Energy pack is up in today’s trading. Weekly performance at a glance in chart & table,
Oil (WTI) –
- Oil price is struggling as trade tensions weigh on demand, especially the deterioration in relations between Turkey and the U.S. Today’s range - $67.3-$68.4
- WTI is currently trading at $67.9/barrel. Immediate support lies at $64 area and resistance at $72 area.
Oil (Brent) –
- Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $72.7-74
- Brent is trading at $5.5 per barrel premium to WTI.
- Brent is trading at $73.4/barrel. Immediate support lies at $70 area and resistance at $79 region.
Natural Gas –
- The bounce back from $2.7 area is continuing, as the U.S. and the EU have agreed in principle to trade more on gas. Today’s range $2.91-$2.98
- Natural Gas is currently trading at $2.97/MMBtu. Immediate support lies at $2.84 area & resistance at $3.10
© 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.