Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies 3% As Iran Suspends Cooperation With International Atomic Energy Agency

Natural Gas

Natural gas gains ground as traders take some profits off the table after the recent move.

If natural gas settles above the $3.50 level, it will head towards the resistance at $3.60 – $3.65.

WTI Oil

WTI oil rallied as Iran suspended cooperation with U.N. nuclear watchdog. Traders also reacted to the EIA report, which showed that crude inventories increased by 4.2 million from the previous week.

If WTI oil stays above the $66.50 level, it will head towards the next resistance at $71.50 – $72.00.

Brent Oil

Brent oil gained ground as U.S. signed a trade deal with Vietnam. Traders expect that other deals will be signed soon, which will be a positive development for global economy.

A move above the $69.00 level opens the way to the test of the resistance at $71.00 – $71.50.

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