Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price remains elevated over geopolitical tensions surrounding Iran and Venezuela and as inventories slide. Today’s range - $64.7-$64.3
• WTI is currently trading at $64.6/barrel. Immediate support lies at $62 area and resistance at $66 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geo-political tension and OPEC agreement. Today’s range - $70-69.6
• Brent is trading at $5.2 per barrel premium to WTI.
• Brent is trading at $69.8/barrel. Immediate support lies at $67 area and resistance at $72 region.

Natural Gas –   

• Natural gas spiked as market anticipates sharp slide in inventories. Today’s range $3.5-3.61          
• Natural Gas is currently trading at $3.6/MMBtu. Immediate support lies at $3.32, $3.4 area & resistance at and $3.75 and at $3.85

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