Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Drones Strike Russia’s Export Hub

Natural Gas

Natural gas faced strong resistance near the $4.60 level and pulled back. RSI remains in the moderate territory, so there is plenty of room to gain momentum in the near term.

A move below the $4.50 level will open the way to the test of the support at $4.25 – $4.30.

WTI Oil

WTI oil  rallied as Ukranian drones attacked Russia’s oil export hub in the city of Novorossiysk.

If WTI oil climbs above the $60.50 level, it will move towards recent highs near the $62.50 level.

Brent Oil

Brent oil gained ground as traders worried that Russia’s oil exports may decrease in the near term.

From the technical point of view, Brent oil needs to settle above the resistance at $64.50 – $65.00 to gain additional upside momentum in the near term.

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