Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Traders Focus On Geopolitical Risks

Natural Gas

Natural gas climbed above the resistance at $3.00 – $3.05 and is trying to settle above the 50 MA at $3.15.

In case this attempt is successful, natural gas will head towards the next resistance level, which is located in the $3.25 – $3.30 range.

WTI Oil

WTI oil rallies as traders stay focused on Russian supply risks. Israel’s operation in Gaza City has also raised geopolitical risk premium for oil, providing additional support to oil prices.

A move above the 50 MA at $64.94 will push WTI oil towards the next resistance level at $66.00 – $66.50.

Brent Oil

Brent oil is trying to settle above the resistance at $67.50 – $68.00 amid broad rally in the oil markets.

In case Brent oil stays above the $68.00 level, it will head towards the resistance at $71.00 – $71.50.

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