Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Traders Focus On Drone Attacks On Russian Refineries

Natural Gas

Natural gas moved higher despite weather forecasts, which indicate that demand will decline this weekend.

In case natural gas settles above the resistance at $3.00 – $3.05, it will head towards the next resistance level at $3.25 – $3.30.

WTI Oil

WTI oil gained ground as Ukrainian drones continued to attack refineries in Russia over the weekend. Traders worry that Russian oil exports will decline, although it is not clear whether attacks will have a material impact on Russian export capacity.

If WTI oil manages to settle above the $64.00 level, it will move towards the resistance level at $66.00 – $66.50.

Brent Oil

Brent oil continued its attempts to settle above the nearest resistance, which is located in the $67.50 – $68.00 range.

A move above the $68.00 level will open the way to the test of the next resistance at $71.00 – $71.50.

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