Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds From Session Lows Amid Rising Tensions In The Middle East

Natural Gas

Natural gas pulls back as traders take profits after the strong rebound from recent lows.

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

WTI Oil

WTI oil rebounded from session lows as traders focused on rising tensions in the Middle East. Yemen’s Houthis attacked Israel’s Ben Gurion Airport, while Israel retaliated by striking the Houthi-controlled port and other targets.

From the technical point of view, WTI oil needs to climb above the $58.00 level to have a chance to gain upside momentum.

Brent Oil

Brent oil  has also moved away from session lows as traders focused on recent developments in the Middle East. However, OPEC+ plans to boost production in June force traders to stay cautious.

A move above the $60.50 level will open the way to the test of the resistance at $62.00 – $62.50.

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