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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Traders React To Putin’s Comments On Peace Deal

By: 
Vladimir Zernov
Natural Gas, WTI Oil, Brent Oil Forecasts

Key Points:

  • Natural gas moves higher as traders stay focused on recent EIA report.
  • WTI oil climbed above the $59.00 level as Russia's Putin commented on the potential peace deal between Russia and Ukraine.
  • Brent oil moved towards the $63.50 level.

Natural Gas

Natural Gas
Natural Gas 271125 Daily Chart

Natural gas gained ground as traders focused on recent EIA report, which showed that working gas in storage decreased by -11 Bcf from the previous week.

A move above the $4.65 level will open the way to the test of the resistance at $5.00 – $5.05.

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WTI Oil

WTI Oil
WTI Oil 271125 Daily Chart

WTI oil gains ground as traders focus on comments from Russian President Vladimir Putin, who said that no final version of a Russia – Ukraine peace plan existed.

In case WTI oil stays above the $59.00 level, it will head towards the nearest resistance at $60.00 – $60.50.

Brent Oil

Brent Oil
Brent Oil 271125 Daily Chart

Brent oil moved higher as traders viewed Putin’s comments as a sign that Russia and Ukraine would not reach a peace deal in the near term.

A move above the $63.50 level will push Brent oil towards the resistance at $64.50 – $65.00.

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About the Author

Vladimir ZernovFutures Trading Expert

Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.

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