Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground Amid Lack Of Strong Catalysts

Natural Gas

Natural gas rallied as traders reacted to cold weather forecasts and the upcoming disruption of supply from Russia to Europe, which will boost demand for U.S. LNG exports.

If natural gas settles above the resistance at $3.95 – $4.00, it will head towards the next resistance level at $4.20 – $4.25.

WTI Oil

WTI oil is moving higher in absence of strong catalysts. Traders are waiting for the important PMI data, which will be released in early January.

If WTI oil stays above the $71.00 level, it will head towards the nearest resistance at $72.00 – $72.50.

Brent Oil

Brent oil gains some ground as traders stay bullish at the start of the week. From a big picture point of view, Brent oil is trying to move away from the strong support at $71.00 – $71.50.

A move above the $75.00 level will push Brent oil towards the resistance level at $77.00 – $77.50.

For a look at all of today’s economic events, check out our economic calendar.