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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Traders React To Putin’s Comments On Peace Deal
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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 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.
WTI Oil
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 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.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
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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