Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Houthis Attack UK-Registered Ship

Natural Gas

Natural gas tested new lows as traders remained focused on warm weather and weak demand. The spread between the March contract and the April contract is just $0.07, so traders do not expect that the situation will get better in the near term.

The technical picture remains bearish, as natural gas moved below the support at $1.60 – $1.65.

WTI Oil

WTI oil  gains ground as traders react to the news from the Middle East. Houthis have reportedly attacked Rubymar cargo ship, which is at the risk of sinking.

In case WTI oil manages to settle above $79.00 – $80.00, it will move towards the next resistance at $85.50 – $86.50.

Brent Oil

Brent oil is also moving higher amid rising tensions in the Middle East. Trading is calm due to U.S. holiday, so traders can expect to see stronger reaction tomorrow.

A successful test of the resistance at $83.50 – $84.50 will push Brent oil towards the next resistance at $89.00 – $90.00.

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