Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Traders Focus On Middle East Tensions

Natural Gas

Natural gas retreats as weather forecasts point to a cooler trend in the upcoming days. It looks that the recent rebound was mostly driven by short-covering, and there are no strong buyers in the market.

A move below the support at $2.00 – $2.05 will push natural gas towards the next support level at $1.80 – $1.85.

WTI Oil

WTI oil rallies as traders react to the assassination of Hamas leader in Tehran. The market is waiting for the potential response from Iran, which blames Israel for the attack.

If WTI oil settles back above the $78.00 level, it will head towards the resistance at $79.00 – $80.00.

Brent Oil

Brent oil gained strong upside momentum amid rising geopolitical tensions.

In case Brent oil stays above the $80.00 level, it will head towards the nearest resistance at $81.50 – $82.00.

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