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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Prices Test New Highs As U.S. “Armada” Arrives To Middle East
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Key Points:
- Natural gas pulls back amid profit-taking.
- WTI oil tested the $62.00 level as traders reacted to geopolitical developments.
- Brent oil made an attempt to settle above the $67.00 level.
Natural Gas
Natural gas is losing some ground as traders continue to take profits after the strong rally.
In case natural gas manages to settle below the support at $3.65 – $3.70, it will move towards the next support level at $3.40 – $3.45.
WTI Oil
WTI oil tests new highs as traders worry that U.S. may strike Iran, which will lead to supply disruptions.
A move above the $62.50 level will push WTI oil towards the next resistance level at $65.50 – $66.00.
Brent Oil
Brent oil gains ground as traders focus on geopolitical developments and supply risks.
If Brent oil stays above the $67.00 level, it will move towards the resistance at $69.50 – $70.00.
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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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