Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies On Trade Deal Hopes

Natural Gas

Natural gas pulls back as traders react to the EIA report, which indicated that working gas in storage increased by +104 Bcf from the previous week.

A move below the $3.50 level will open the way to the test of the support level at $3.35 – $3.40.

WTI Oil

WTI oil gains ground as traders react to U.S. – UK trade deal and prepare for U.S. – China negotiations, which will be held on May 10 in Switzerland.

If WTI oil climbs above the $60.00 level, it will head towards the nearest resistance level at $62.50 – $63.00.

Brent Oil

Brent oil is trying to settle above the resistance at $62.00 – $62.50 amid broad rally in the oil markets.

In case Brent oil stays above the $62.50 level, it will head towards the resistance at $67.00 – $67.50.

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