Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Equinor Halts Johan Sverdrup Oilfield

Natural Gas

Natural gas gains ground as traders focus on weather forecasts, which indicate that weather will get colder.

A successful test of the resistance at $3.00 – $3.05 will push natural gas towards the next resistance level at $3.20 – $3.25.

WTI Oil

WTI oil rallies as traders focus on the power outage at Johan Sverdrup, which is operated by Equinor.

If WTI oil settles back above the $70.00 level, it will head towards the 50 MA at $70.58. A move above the 50 MA will open the way to the test of the resistance at $72.00 – $72.50.

Brent Oil

Brent oil moved higher as traders focused on the supply disruption in Norway and reacted to reports indicating that U.S. allowed Ukraine to use U.S. – made weapons to strike deep into Russia.

In case Brent oil climbs above the 50 MA at $74.18, it will move towards the next resistance at $77.00 – $77.50.

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