• Commodities snapshot (energy)

    Source: FxWire Pro - Commentary / 21 Aug 2018 13:09:19   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. and the weakness in the emerging markets.  Today’s range - $66.7-$65.3
    • WTI is currently trading at $66/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 - $72-73
    • Brent is trading at $6.5 per barrel premium to WTI.
    • Brent is trading at $72.5/barrel. Immediate support lies at $70 area and resistance at $76 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 and price is testing $3 resistance area.  Today’s range $2.95-$2.99
    • Natural Gas is currently trading at $2.98/MMBtu. Immediate support lies at $2.84 area & resistance at $3.10

    WTI

            +0.15%

    Brent

             +0.97%

    Natural Gas

            +1.36%


               

     

     

     

     

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