Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Drones Attack Oil Fields In Iraq

Natural Gas

Natural gas pulls back as traders react to the EIA report, which indicated that working gas in storage increased by +46 Bcf from the previous week.

If natural gas settles back below the $3.50 level, it will head towards the support level at $3.35 – $3.40.

WTI Oil

WTI oil gains ground as traders focus on the devlopments in the Middle East. Recent reports indicate that drones attakced oil fields in Iraqi Kurdistan.

The technical picture remains bullish as WTI oil settled above the support level at $66.00 – $66.50.

Brent Oil

Brent oil is moving towards the $70.00 level as geopolitical risk premium increased.

A move above $70.00 will push Brent oil towards the resistance level at $71.00 – $71.50.

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