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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Pulls Back As Traders Focus On U.S. – Russia Talks
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Key Points:
- Natural gas moved away from multi-month highs.
- WTI oil pulled back as traders waited for the results of U.S. - Russia talks.
- Brent oil settled back below the $63.00 level.
Natural Gas
Natural gas tested the $4.98 level but lost momentum and pulled back as traders have started to take profits near multi-month highs.
In case natural gas settles below the $4.80 level, it will head towards the support at $4.60 – $4.65.
WTI Oil
WTI oil stays range-bound as traders wait for the results of Russia – U.S. negotiations in Moscow. Russia’s Putin is talking with Trump’s special envoy Witkoff.
The technical picture remains unchanged as WTI oil is stuck below the resistance level at $60.00 – $60.50.
Brent Oil
Brent oil is losing some ground as traders remain focused on geopolitical developments and wait for additional catalysts.
A move above the $63.00 level will open the way to the test of 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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