Platinum $XPT (approx. 1,655)
Latest: About $1,655 per ounce, up slightly on the day.
Reason: Supported by demand from hydrogen-powered vehicles and industry, and holding up better than palladium.
Outlook: If it holds above 1,655, watch 1,680–1,700; below 1,600, watch 1,580.
Resistance: 1,680 / 1,700; support: 1,600 / 1,580.
Key factors: Hydrogen policy, auto demand, the dollar.
Related stocks: As with palladium, platinum-group metal stocks and ETFs.
Natural gas $NATGAS (approx. 3.05)
Latest: Henry Hub at about $3.05 per MMBtu.
Reason: Ample North American supply; global LNG tightness has not spilled over into the domestic market. Inventories and weather are the main drivers.
Outlook: If it holds above 3.05, watch 3.3–3.5; below 2.9, watch 2.8.
Resistance: 3.3 / 3.5; support: 2.9 / 2.8.
Key factors: Inventories, weather, LNG exports, production.
Related stocks: U.S. stocks Cheniere (LNG), EQT, Coterra (CTRA), Range.
WTI crude oil $CL (97.82)
Latest: WTI at $97.82 per barrel (December contract -0.7%; November contract at 101.79, -1.8%).
Reason: Pulled back after hitting a five-month high. Reports that the U.S. and Europe are considering coordinated diesel reserve releases, record production in several countries across the Americas, and news around U.S.–Iran talks have weighed on prices. However, Houthi attacks on Saudi Arabia, a tanker striking a mine in the Strait of Hormuz, and U.S. strategic reserves falling to a 44-year low continue to support a geopolitical risk premium.
Outlook: If it holds at 95–93, watch for a rebound; strong resistance at 100–102. Below 93, watch 90.
Resistance: 100 / 102; support: 95 / 93.
Key factors: Middle East geopolitics, OPEC supply, U.S. inventories, the dollar, strategic reserves.
Related stocks: A-shares CNOOC (600938 / 0883), PetroChina (601857), Sinopec (600028); U.S. stocks Exxon Mobil (XOM), Chevron (CVX).
Brent crude oil $BZ (109.16)
Latest: Brent at $109.16 per barrel, down 0.36% on the day (it briefly fell more than 3%, dropping below 110 before paring losses).
Reason: Moving in line with WTI, but more sensitive to geopolitical risk premiums; pulled back from a five-month high.
Outlook: If it holds at 105–103, watch for a rebound; resistance at 110–115. Below 103, watch 100.
Resistance: 110 / 115; support: 105 / 103.
Key factors: Same as WTI, with a focus on the Middle East and maritime shipping.
Related stocks: Same as the stocks related to WTI crude oil.
Latest: About $1,655 per ounce, up slightly on the day.
Reason: Supported by demand from hydrogen-powered vehicles and industry, and holding up better than palladium.
Outlook: If it holds above 1,655, watch 1,680–1,700; below 1,600, watch 1,580.
Resistance: 1,680 / 1,700; support: 1,600 / 1,580.
Key factors: Hydrogen policy, auto demand, the dollar.
Related stocks: As with palladium, platinum-group metal stocks and ETFs.
Natural gas $NATGAS (approx. 3.05)
Latest: Henry Hub at about $3.05 per MMBtu.
Reason: Ample North American supply; global LNG tightness has not spilled over into the domestic market. Inventories and weather are the main drivers.
Outlook: If it holds above 3.05, watch 3.3–3.5; below 2.9, watch 2.8.
Resistance: 3.3 / 3.5; support: 2.9 / 2.8.
Key factors: Inventories, weather, LNG exports, production.
Related stocks: U.S. stocks Cheniere (LNG), EQT, Coterra (CTRA), Range.
WTI crude oil $CL (97.82)
Latest: WTI at $97.82 per barrel (December contract -0.7%; November contract at 101.79, -1.8%).
Reason: Pulled back after hitting a five-month high. Reports that the U.S. and Europe are considering coordinated diesel reserve releases, record production in several countries across the Americas, and news around U.S.–Iran talks have weighed on prices. However, Houthi attacks on Saudi Arabia, a tanker striking a mine in the Strait of Hormuz, and U.S. strategic reserves falling to a 44-year low continue to support a geopolitical risk premium.
Outlook: If it holds at 95–93, watch for a rebound; strong resistance at 100–102. Below 93, watch 90.
Resistance: 100 / 102; support: 95 / 93.
Key factors: Middle East geopolitics, OPEC supply, U.S. inventories, the dollar, strategic reserves.
Related stocks: A-shares CNOOC (600938 / 0883), PetroChina (601857), Sinopec (600028); U.S. stocks Exxon Mobil (XOM), Chevron (CVX).
Brent crude oil $BZ (109.16)
Latest: Brent at $109.16 per barrel, down 0.36% on the day (it briefly fell more than 3%, dropping below 110 before paring losses).
Reason: Moving in line with WTI, but more sensitive to geopolitical risk premiums; pulled back from a five-month high.
Outlook: If it holds at 105–103, watch for a rebound; resistance at 110–115. Below 103, watch 100.
Resistance: 110 / 115; support: 105 / 103.
Key factors: Same as WTI, with a focus on the Middle East and maritime shipping.
Related stocks: Same as the stocks related to WTI crude oil.