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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Prices Rebound Ahead Of The Weekend
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Key Points:
- Natural gas remains under strong pressure.
- WTI oil gained ground as traders focused on Trump's comments regarding his tariff plans.
- Brent oil moved back above the $65.00 level.
Natural Gas
Natural gas remains under strong pressure amid lack of positive catalysts. Currently, natural gas continues its attempts to settle below the support at $3.35 – $3.40.
If natural gas settles below the $3.35 level, it will move towards the next support at $3.05 – $3.10.
WTI Oil
WTI oil rebounds as traders react to Donald Trump’s plans to set tariff rates for U.S. trading partners over the next two or three weeks.
A successful test of the resistance at $62.50 – $63.00 will open the way to the test of the 50 MA at $64.06.
Brent Oil
Brent oil climbed back above the $65.00 level as traders used the recent pullback as an opportunity to increase their long positions.
If Brent oil stays above the $65.00 level, it will move towards the nearest resistance at $67.00 – $67.50.
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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