Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Are Mostly Flat As Traders Ignore Rising Treasury Yields

Natural Gas

Natural gas tests new highs as traders focus on weather forecasts. Hot weather would drive  higher cooling demand, which is bullish for natural gas prices.

From the technical point of view, natural gas moved above the resistance at $2.80 – $2.85 and is heading towards the next resistance at $3.02 – $3.09.

WTI Oil

WTI oil is mostly flat despite strong dollar and rising Treasury yields. Traders are not ready for big moves ahead of the weekend.

If WTI oil settles above $75.50, it will head towards the next resistance level at $79.00 – $80.00.

Brent Oil

Brent oil is also flat as traders ignore worries about hawkish Fed. It looks that the market needs some time to stabilize after recent volatility.

A move above the $81.00 level will push Brent oil towards the next significant resistance level at $84.50 – $85.00.

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