Natural Gas
Natural gas rebounds as traders react to the EIA report, which indicated that working gas in storage increased by +13 Bcf from the previous week.
In case natural gas stays above the $2.80 level, it will head towards the resistance at $3.00 – $3.05.
WTI Oil
WTI oil gains ground as traders react to recent reports which indicate that Russia and Ukraine remain far from any kind of a peace deal.
From the technical point of view, WTI oil continues to consolidate after the pullback from July highs.
Brent Oil
Brent oil tests resistance at $67.50 – $68.00 as geopolitical risk premium is rising.
In case this test is successful, Brent oil will gain additional upside momentum and move towards the 50 MA at $69.35.
Natural Gas Price Forecast
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