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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Moves Higher As Traders React To U.S. – Russia Talks In Moscow
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Key Points:
- Natural gas tests new highs, supported by cold weather forecasts.
- WTI oil gained ground as traders reacted to geopolitical developments.
- Brent oil moved towards the $63.00 level.
Natural Gas
Natural gas tests new highs as traders focus on colder weather forecasts and bet on rising demand.
In case natural gas manages to settle above the resistance at $5.00 – $5.05, it will move towards the next resistance level at $5.45 – $5.50.
WTI Oil
WTI oil gained some ground as U.S. – Russia talks on Ukraine peace deal failed to reach breakthrough.
From the technical point of view, oil prices remain range-bound. WTI oil needs to settle above the $60.50 level to gain upside momentum in the near term.
Brent Oil
Brent oil moved higher as geopolitical risk premium increased. However, traders remained worried about rising supply, so Brent oil failed to gain sustainable upside momentum.
If Brent oil pulls back below the $58.00 level, it will head towards the support at $55.50 – $56.00.
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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