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Commodities snapshot (energy)

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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