Key Insights
- Natural gas gains ground as traders focus on cooler weather.
- WTI oil rebounded from session lows as geopolitical risks increased.
- Brent oil moved back above the $88.00 level.
Natural Gas
Natural gas continues to move higher as traders focus on the recent bullish changes in weather forecasts.
A move above the resistance at $3.00 – $3.05 will provide natural gas with an opportunity to gain sustainable upside momentum.
WTI Oil
WTI oil rebounds as traders react to the reports indicating that Israel continues to prepare for a ground operation against Hamas in Gaza.
The nearest resistance for WTI oil is located in the $86.00 – $87.30 range. A move above $87.30 will push WTI oil towards the resistance at $92.50 – $94.00.
Brent Oil
Brent oil has also gained strong upside momentum as traders focused on the developments in the Middle East.
If Brent oil climbs above the $90.00 level, it will head towards the resistance at $95.00 – $96.00.
For a look at all of today’s economic events, check out our economic calendar.
