• Commodities snapshot (energy)

    Source: FxWire Pro - Commentary / 16 Aug 2018 12:24:41   America/New_York

    Energy pack is down 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. and the weakness in the emerging markets.  Today’s range - $64.4-$65.5
    • WTI is currently trading at $65.4/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 - $70.4-71.5
    • Brent is trading at $5.8 per barrel premium to WTI.
    • Brent is trading at $71.2/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 $2.95-$2.88
    • Natural Gas is currently trading at $2.91/MMBtu. Immediate support lies at $2.84 area & resistance at $3.10

    WTI

            -3.30%

    Brent

             -2.21%

    Natural Gas

            -0.58%


               

     

     

     

     

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