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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Is Mostly Flat As Norway’s Johan Sverdrup Oilfield Resumes Production
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Key Points:
- Natural gas continues to move higher as traders stay focused on bullish weather forecasts.
- WTI oil is flat as traders react to the restart of Johan Sverdrup oilfield.
- Brent oil settled near the $73.00 level.
Natural Gas
Natural gas tests resistance at $3.00 – $3.05 as traders stay focused on colder weather, which would boost demand.
A move above the $3.05 level will push natural gas towards the resistance at $3.20 – $3.25.
WTI Oil
WTI oil is mostly flat as traders focus on the partial restart of Norway’s Johan Sverdrup oilfield.
If WTI oil manages to settle above the 50 MA at $70.63, it will head towards the resistance at $72.00 – $72.50.
Brent Oil
Brent oil is flat as traders focus on rising geopolitical tensions and falling Treasury yields.
In case Brent oil pulls back below the $73.00 level, it will head towards the support level at $71.00 – $71.50.
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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