Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds From Session Lows As Traders Focus On EIA Report

Natural Gas

Natural gas gains ground as traders focus on the hurricane in the Gulf of Mexico and react to the results of U.S. presidential election.

A successful test of the resistance at $2.75 – $2.80 will push natural gas towards the next resistance level at $3.00 – $3.05.

WTI Oil

WTI oil rebounded from session lows as traders focused on the EIA report, which showed that crude inventories increased by 2.1 million barrels from the previous week.

A move above the $72.50 level will open the way to the test of the next resistance level at $77.00 – $77.50.

Brent Oil

Brent oil has also managed to rebound from session lows. While many analysts believe that a Trump presidency could be bearish for oil markets as he will encourage domestic production, oil traders stay bullish in the near term.

If Brent oil stays above the $75.00 level, it will move towards the resistance at $77.00 – $77.50.

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