Commodities snapshot (energy)

Energy pack is mixed in today’s trading. Weekly performance at a glance in chart & table,

Oil (WTI) –

• Oil price down this week, despite OPEC extending production deal. Today’s range - $57.1-$57.7
• WTI is currently trading at $57.5/barrel. Immediate support lies at $54 area and resistance at $60 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geo-political tension and OPEC agreement. Today’s range - $62.1-62.8
• Brent is trading at $5.2 per barrel premium to WTI.
• Brent is trading at $62.7/barrel. Immediate support lies at $59 area and resistance at $65 region.

Natural Gas –   

• Natural gas is continuing range trade despite several breakout attempts on both sides. It is again heading lower to test range low. Today’s range $2.88-3.00  
• Natural Gas is currently trading at $2.92/MMBtu. Immediate support lies at $2.96, $2.8 area & resistance at and $3.25

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest