Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Test Weekly Highs

Natural Gas

Natural gas rallied as traders focused on colder weather forecasts. Current demand for natural gas is high, which provides additional support to prices.

In case natural gas settles above the resistance at $4.60 – $4.65, it will head towards the next resistance level at $5.00 – $5.05.

WTI Oil

WTI oil gains ground as traders focus on the impact of sanctions on Russian oil companies. Recent reports indicate the international assets of Russia’s Lukoil face serious problems.

A move above the 50 MA at $61.41 will open the way to the test of the resistance level at $66.00 – $66.50.

Brent Oil

Brent oil attempts to settle above the resistance at $64.50 – $65.00 amid broad rally in the energy markets.

In case this attempt is successful, Brent oil will head towards the next resistance level at $69.00 – $69.50.

For a look at all of today’s economic events, check out our economic calendar.