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Natural Gas and Oil Analysis: Market Treads Amidst 8% NG Jump & Global Unrest

By:
Arslan Ali
Updated: Feb 21, 2024, 11:05 GMT+00:00

Key Points:

  • Oil markets balance modest gains against demand uncertainties and Middle East supply disruptions, eyeing economic indicators.
  • Upcoming PMI data and Fed minutes to shed light on demand outlook as higher U.S. rates may dampen oil demand growth.
  • Stability in oil prices amidst geopolitical tensions and policy shifts, with a close watch on key technical levels for natural gas and oil forecasts.
Energy Recap

In this article:

Global Oil Dynamics: Demand Concerns and Supply Risks

In Asian markets, oil prices remained stable amidst concerns over a dampened demand outlook and the ongoing Middle East conflict’s potential to disrupt supplies. Brent and West Texas Intermediate crude futures both saw modest gains.

Economic indicators from the U.S., Eurozone, and Japan are anticipated, with PMI data and Federal Reserve minutes expected to provide further insights into demand forecasts and interest rate policies.

The Fed’s stance suggests higher U.S. rates may challenge oil demand as economic growth cools. Meanwhile, Middle East tensions, underscored by the U.S.’s veto of a UN Gaza ceasefire resolution, continue to pose risks to oil supply stability.

Natural Gas Price Forecast

About the Author

Arslan, a webinar speaker and derivatives analyst, has an MBA in Finance and MPhil in Behavioral Finance. He guides financial analysis, trading, and cryptocurrency forecasting. Expert in trading psychology and sentiment.

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