- WTI is set to fall 3.8% on the week, driven by the Israel-Hezbollah ceasefire, albeit a fragile one. Downside is moderated by reports this week suggesting OPEC+ is discussing output return delays for Q1 2025.
- WTI Jan 25 has edged down by 0.3% on Friday to $68.5/bbl.
- The ceasefire remains in place, but Israel and Lebanon blamed each other on Thursday for violating a fragile US-brokered agreement that came into effect a day earlier.
- With a bearish threat in WTI futures remaining present, attention is still on $65.74, the Oct 1 low, and $63.90, the Sep 10 low and key support.
- Elsewhere, Henry Hub is continuing today’s rally amid thin holiday trading volumes and cooler weather and high LNG feedgas flows.
- US Natgas Jan 25 is up by 4.4% at $3.34/mmbtu.
- Meanwhile, spot gold has risen by 0.6% on Friday to $2,653/oz, leaving the yellow metal 2.3% lower on the week, following the sharp pull-back on Monday.
- Resistance to watch remains at $2,721.4, Monday’s high, while key support to monitor is at $2,536.9, the Nov 14 low.
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COMMODITIES: Crude Edges Lower, Henry Hub, Gold Gain
Last updated at:Nov-29 19:06By: Keith Gyles
Metals+ 15
- WTI is set to fall 3.8% on the week, driven by the Israel-Hezbollah ceasefire, albeit a fragile one. Downside is moderated by reports this week suggesting OPEC+ is discussing output return delays for Q1 2025.
- WTI Jan 25 has edged down by 0.3% on Friday to $68.5/bbl.
- The ceasefire remains in place, but Israel and Lebanon blamed each other on Thursday for violating a fragile US-brokered agreement that came into effect a day earlier.
- With a bearish threat in WTI futures remaining present, attention is still on $65.74, the Oct 1 low, and $63.90, the Sep 10 low and key support.
- Elsewhere, Henry Hub is continuing today’s rally amid thin holiday trading volumes and cooler weather and high LNG feedgas flows.
- US Natgas Jan 25 is up by 4.4% at $3.34/mmbtu.
- Meanwhile, spot gold has risen by 0.6% on Friday to $2,653/oz, leaving the yellow metal 2.3% lower on the week, following the sharp pull-back on Monday.
- Resistance to watch remains at $2,721.4, Monday’s high, while key support to monitor is at $2,536.9, the Nov 14 low.
Related bullets
Related by topic
Metals
Gasoil
Marine Oil
Oil Positioning
OPEC
Freight
Jet Fuel
Gasoline
Fuel Oil
Diesel
Oil Options
Energy Data
US Natgas
TTF ICE
Asia LNG
Gas Positioning
