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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Trump Puts More Pressure On Iran
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Key Points:
- Natural gas climbed back above the $5.00 level.
- WTI oil rallied as traders reacted to Trump's comments and focused on new Iran-related sanctions.
- Brent oil tested the $66.00 level.
Natural Gas
Natural gas gains ground as traders stays focused on cold weather. Current demand for natural gas is high, which is bullish for natural gas prices.
If natural gas stays above the $5.00 level, it will get to the test of the next resistance at $5.25 – $5.30.
WTI Oil
WTI oil rallied as Trump put more pressure on Iran. U.S. introduced sanctions on vessels transporting Iranian oil. In addition, Trump said that an “armada” was heading to Middle East.
In case WTI oil stays above the $60.50 level, it will head towards recent highs near $62.50.
Brent Oil
Brent oil is moving higher as traders focus on supply risks amid Iran-related tensions.
From the technical point of view, Brent oil needs to stay above the $65.00 level to have a chance to gain additional upside momentum in the near term.
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About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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