Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

​Brent crude oil price remains bid while silver, US natural gas prices slip​

​​​Brent crude oil price remains bid amid depleted inventories while silver, US natural gas prices slip​ despite weakening US dollar.

Oil Source: Adobe images

​​​Brent crude oil price rises on inventory drop

​The Brent crude oil front month futures price rose by over 2% on Wednesday amid much lower than expected US EIA inventories with the lower end of the 72.70-to-73.86 price gap between Friday's low and Monday's high currently acting as resistance. If filled, the upper October downtrend channel resistance line at 74.16 may be revisited alongside the 55-day simple moving average (SMA) at 74.76.

​Key support remains to be seen between the September and current October lows at 70.31-to-68.53.

Brent crude oil chart Source: IT-Finance.com
Brent crude oil chart Source: IT-Finance.com

​Spot silver price forms minor top

​The spot silver price’s run up to last week’s $34.87 per troy ounce high, to levels last traded in October 2012, has been followed by a small pullback to Friday’s $33.09 low from where another upside attempt has been made. This seems to have run out of steam at Tuesday’s $34.55 high, though, with further downside being on the cards, now that the accelerated October uptrend line is beginning to give way. A fall through the 25 October low at $33.09 could kickstart a protracted consolidation phase with the May peak at $32.51 being revisited.

Spot silver chart Source: IT-Finance.com
Spot silver chart Source: IT-Finance.com

​US natural gas prices remain under pressure

​The descent from last week’s front-month US natural gas futures 3.081 high is ongoing with the August-to-October tentative uptrend line at 2.774 being eyed. A fall through it would likely engage the October low at 2.636.

​Minor resistance can be seen at Friday’s 2.944 low and more significant resistance between the current October highs at 3.081-to-3.141.​​

US natural gas chart Source: IT-Finance.com
US natural gas chart Source: IT-Finance.com

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.

Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

Trade on commodities

Trade commodity futures, as well as 27 commodity markets with no fixed expiries.1

  • Wide range of popular and niche metals, energies and softs
  • Spreads from 0.3 pts on Spot Gold, 2 pts on Spot Silver and 2.8 pts on Oil
  • View continuous charting, backdated for up to five years

1In the case of all DFBs, there is a fixed expiry at some point in the future.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Tuesday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.