Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As U.S. Imposes Sanctions On Russian Oil Industry

Natural Gas

Natural gas rallied as cold weather boosted demand and traders bet that natural gas inventories would continue to fall.

A successful test of the resistance at $3.95 – $4.00 will push natural gas towards the next resistance level at $4.25 – $4.30.

WTI Oil

WTI oil rallied as U.S. imposed sanctions on the Russian oil industry. Oil traders bet that new sanctions would disrupt supplies and provide additional support to prices.

If WTI oil climbs above the resistance at $77.00 – $77.50, it will move towards the next resistance level at $80.00 – $80.50.

Brent Oil

Brent oil gained ground as traders reacted to sanctions and focused on cold weather, which would boost demand for energy.

In case Brent oil settles above the psychologically important $80.00 level, it will move towards the strong resistance level at $81.00 – $81.50.

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