September 16, 2022 18:59 GMT
Metals bulletEM BulletFixed Income NewsHomepageCommoditiesEnergy BulletsBulletMarketsEmerging Markets NewsForeign Exchange News
- Oil sees a particularly narrow range to end the week down 1.5-2% as demand fears have outweighed supply-side risks, with strong US inflation forcing yields higher for much of the week along with separate concerns over US distillate demand.
- WTI is +0.05% at $85.16 as the trend outlook remains bearish. Bear trigger at $81.20 (Sep 8 low) and resistance at $90.19 (Sep 14 high).
- Brent is +0.6% at $91.37 as the trend outlook remains bearish. Support at $90.03 (Sep 15 low) with the bear trigger at $87.24 (Sep 8 low), whilst resistance is at $95.80 (Sep 14 high).
- Gold is +0.6% at $1675.52 after a torrid week for the yellow metal that saw it fall through key support on Fed hike fears. Resistance is seen at $1688.9 (Sep 1 low) whilst support is the intraday low of $1654.2.
- Weekly moves: WTI -1.8%, Brent -1.6%, Gold -2.4%, US Nat Gas, -2.7%, TTF Nat Gas -9.7%