Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Moves Higher Amid Rising Geopolitical Risk Premium

Natural Gas

Natural gas gains ground as traders react to the EIA report, which indicated that working gas in storage increased by +18 Bcf from the previous week, compared to analyst forecast of +26 Bcf.

If natural gas settles above the resistance at $3.00 – $3.05, it will head towards the next resistance at $3.25 – $3.30.

WTI Oil

WTI oil gained ground as President Trump will soon make an additional statement on negotiations with Russia.

From the technical point of view, WTI oil is moving towards the nearest resistance, which is located in the $66.00 – $66.50 range.

Brent Oil

Brent oil climbed back above the $68.00 level as traders focused on geopolitical developments.

If Brent oil settles above the 50 MA at $68.56, it will head towards the resistance at $71.00 – $71.50.

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