Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds As Libya’s Exports Remain Halted

Natural Gas

Natural gas gained ground in quiet trading as the rebound continued. It remains to be seen whether this rebound will be sustainable as oversupply remains a key problem for natural gas markets.

In case natural gas climbs above the resistance at $2.25 – $2.30, it will head towards the next resistance level at $2.55 – $2.60.

WTI Oil

WTI oil moved higher as traders focused on the situation in Libya. The country resumed production for domestic needs, but its exports remained halted.

If WTI oil settles above the $74.00 level, it will move towards the nearest resistance at $75.50 – $76.00.

Brent Oil

Brent oil has also managed to gain some ground, supported by the developments in Libya.

In case Brent oil climbs above the $77.50 level, it will head towards the psychologically important $80.00 level.

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