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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains 1.9% As Exports From Iraq’s Kurdistan Fail To Restart
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Key Points:
- Natural gas climbed above the $2.85 level.
- WTI oil moved towards $63.50 as traders focused on the situation in Iraq's Kurdistan.
- Brent oil tested resistance at $67.50 - $68.00.
Natural Gas
Natural gas rebounds as traders take some profits off the table after the strong pullback.
A move above the $2.90 level will push natural gas towards the resistance level at $3.00 – $3.05.
WTI Oil
WTI oil moved higher as exports from Iraq’s Kurdistan region did not restart as planned.
If WTI oil climbs above the 50 MA at $64.52, it will move towards the resistance level at $66.00 – $66.50.
Brent Oil
Brent oil climbed towards the resistance level at $67.50 – $68.00 amid broad rally in the oil markets.
A successful test of the resistance at $67.50 – $68.00 will push Brent oil towards the next resistance at $71.00 – $71.50.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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