Natural Gas
Natural gas gains ground as traders react to the EIA report, which indicated that working gas in storage increased by +107 Bcf from the previous week, compared to analyst forecast of +110 Bcf.
If natural gas settles above the $3.50 level, it will move towards the next resistance level at $3.60 – $3.65.
WTI Oil
WTI oil gained ground as U.S. – Iran talks were delayed for “logistical reasons”. Earlier, U.S. Defense Secretary Hegseth warned Iran about the consequences of supporting the Houthis.
A move above the $60.00 level will push WTI oil towards the resistance at $62.50 – $63.00.
Brent Oil
Brent oil moved higher amid broad rebound in the oil markets. Traders have started to pay attention to geopolitical risks.
From the technical point of view, Brent oil needs to settle above the resistance at $62.00 – $62.50 to gain additional upside momentum in the near term.
Natural Gas Price Forecast
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