Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Moves Higher On Trade Talk Optimism

Natural Gas

Natural gas made an attempt to settle below the support at $3.60 – $3.65 as traders reacted to the EIA report, which showed that working gas in storage increased by +122 Bcf from the previous week.

A move below the $3.60 level will push natural gas towards the support at $3.40 – $3.60.

WTI Oil

WTI oil gained ground as U.S. and China agreed to continue trade talks after a phone call between U.S. President Trump and China’s leader Xi.

In case WTI oil moves above the $64.00 level, it will head towards the next resistance at $66.00 – $66.50.

Brent Oil

Brent oil moved higher as traders focused on the continuation of trade talks between the world’s biggest economies.

The technical picture remained unchanged as Brent oil needs to settle above the 50 MA at $65.60 to gain momentum and test the resistance at $67.00 – $67.50.

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