Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As U.S. Weighs Action Against Iran

Natural Gas

Natural gas gains ground as rebound continues. Colder weather forecasts provided material support to natural gas markets in today’s trading session.

A move above the $3.50 level will push natural gas towards the nearest resistance at $3.70 – $3.75.

WTI Oil

WTI oil is moving higher as traders focus on the potential U.S. action against Iran.

In case WTI oil stays above the resistance at $60.00 – $60.50, it will move towards the next resistance level at $65.50 – $66.00.

Brent Oil

Brent oil gained ground as traders worried that U.S. may strike Iran amid protests in the country.

From the technical point of view, Brent oil needs to stay above the $65.00 level to have a chance to gain upside momentum in the near term.

If you’d like to know more about how commodity markets work, please visit our educational area.