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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds As Trump Plans To Put ‘Maximum Pressure’ On Iran
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Key Points:
- Natural gas is moving lower after China imposes tariffs on U.S. LNG.
- WTI oil is moving higher as traders focus on Donald Trump's plans to cut Iran's oil exports.
- Brent oil managed to climb back above the $76.00 level.
Natural Gas
Natural gas pulls back as traders focus on China’s new 15% tariff on U.S. LNG, which may put pressure on export demand.
A move below the $3.20 level will push natural gas towards the nearest support at $2.95 – $3.00.
WTI Oil
WTI oil rebounded from session lows amid reports indicating that Donald Trump would put “maximum pressure” on Iran in order to cut its oil exports to zero.
A move above the $73.50 level will push WTI oil towards the resistance level at $77.00 – $77.50.
Brent Oil
Brent oil climbed back above the $76.00 level as traders worried about potential supply disruptions.
From the technical point of view, Brent oil needs to settle back above the $77.50 level to have a chance to gain sustainable upside momentum in the near term.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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