Advertisement
Advertisement
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Stabilized After OPEC+ Decision
By:
Key Points:
- Natural gas moved higher as traders bet on rising demand.
- WTI oil is flat as traders stay focused on recent OPEC+ decision.
- Brent oil settled near the $65.50 level.
Natural Gas
Natural gas gains ground as traders focus on bullish changes in weather forecasts.
In case natural gas stays above the $3.45 level, it will head towards the resistance at $3.55 – $3.60.
WTI Oil
WTI oil is swinging between gains and losses as traders evaluate OPEC+ decision to boost production by 137,000 bpd in November.
A move above the $62.00 level will push WTI oil towards the 50 MA at $63.73.
Brent Oil
Brent oil is mostly flat as traders wait for additonal catalysts. The market stabilized after OPEC+ decision, but traders remain worried about demand.
In case Brent oil climbs above the $66.00 level, it will move towards the resistance level at $67.50 – $68.00.
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.
Advertisement