Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Houthis Claim They Attacked U.S. Military Cargo Vessel

Key Insights

• Natural gas remains under strong pressure as traders prepare for warm weather. 
• WTI oil is trying to settle above $75.00 as Houthis say they attacked U.S. military cargo ship. 
• Brent oil tests the $80.00 level amid rising tensions in the Middle East.

Natural Gas

Natural gas tested new lows as traders prepared for warm weather from January 23 to February 4.

If natural gas stays below the $2.45 level, it will head towards the next support at $2.10 – $2.15.

WTI Oil

WTI oil gains ground as Houthis claim they have attacked U.S. military cargo ship in Gulf of Aden.

In case WTI oil settles above the $75.00 level, it will head towards the resistance, which is located in the $79.00 – $80.00 range.

Brent Oil

Brent oil moved above the $80.00 level as traders focused on rising tensions in the Middle East.

RSI is in the moderate territory, so there is plenty of room to gain additional momentum in case the right catalysts emerger.

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