Natural Gas, WTI Oil, Brent Oil Forecasts – Brent Oil Tests New Highs

Natural Gas

Natural gas remains under pressure as traders stay worried about rising production levels.

The current trend is strong, and natural gas needs significant positive catalysts to have a chance to gain sustainable upside momentum.

WTI Oil

WTI oil continues its attempts to settle above the resistance at $83.50 – $84.50 as traders stay focused on yesterday’s EIA report, which showed a significant decline in crude inventories.

A move above the $84.50 level will push WTI oil towards the next resistance level at $87.00 – $87.50.

Brent Oil

Brent oil is trying to settle above the $87.50 level as traders bet on rising demand during the summer driving season.

The nearest resistance level for Brent oil is located in the $88.00 – $89.00 range. A successful test of this level will open the way to the test of the next resistance at $91.25 – $92.15.

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