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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds From Session Lows As Traders Stay Focused On The Middle East
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Key Points:
- Natural gas is under strong pressure amid a lack of positive catalysts.
- WTI oil rebounded from session lows as traders waited for Israel's moves after the attack from Iran.
- Brent oil is trying to settle back above the $90.00 level.
Natural Gas
Natural gas is losing ground as traders focus on high storage levels and disappointing weather forecasts.
A move below the key support at $1.60 – $1.65 will push natural gas towards the $1.50 level.
WTI Oil
WTI oil rebounded from session lows as traders waited for Israel’s response on the recent attack from Iran.
The technical picture remains unchanged as WTI oil is stuck near the resistance at $85.50 – $86.50.
Brent Oil
Brent oil is mostly flat while traders are focused on the news from the Middle East.
From the technical point of view, Brent oil needs to settle above the $86.50 level to have a chance to gain sustainable upside momentum.
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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