Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Are Flat As Traders Wait For Catalysts

Natural Gas

Natural gas gains ground as traders react to the EIA report, which indicated that working gas in storage increased by +37 Bcf from the previous week.

The technical picture remains unchanged as natural gas settled in a range between the support at $3.70 – $3.75 and the resistance at $4.00 – $4.05.

WTI Oil

WTI oil is flat as traders wait for additional catalysts. It should be noted that the bullish trend is strong, and any pullbacks are quickly bought.

A move above the 50 MA at $70.63 will push WTI oil towards the resistance level at $73.00 – $73.50.

Brent Oil

Brent oil has also managed to rebound from session lows as traders bought the dip.

The technical picture is bullish, and Brent oil has a good chance to settle above the 50 MA at $74.22.

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