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WTI, Brent Remain Constructive

COMMODITIES
  • After drifting lower across Asia-Pacific hours, oil benchmarks are modestly higher ahead of the NY open, with WTI crude futures testing the Monday high at $71.67. Solid equity performance remains the driver, with continued strength in global stock futures buoying sentiment. The bullish candle formation printed Tuesday may also be continuing to exert influence.
  • Focus turns to the EIA natgas storage change data crossing at 1530BST/1030ET. Markets expect a build of 42BCF.
  • Gold and silver are both modestly lower, dented by positive risk sentiment as the yellow metal prints a lower low for the third consecutive session. A close below the 100-dma at $1795.4 would be bearish, opening $1792.4, the 50% retracement of the recent rally.
Energy BulletsCommodities
Energy BulletsCommodities

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