Key Insights
- Natural gas is moving higher ahead of the weekend.
- WTI oil tested new lows as traders focused on the recent developments in the Middle East.
- Brent oil pulled back below the $78.00 level.
Natural Gas
Natural gas rebounds after yesterday’s pullback, but traders remain worried about warm weather.
From the technical point of view, natural gas is trying to stabilize after the recent volatility.
WTI Oil
WTI oil tested new lows as traders focused on signs of de-escalation in the Middle East.
A successful test of the support at $73.00 – $74.00 will push WTI oil towards the support at $68.00 – $69.00.
Brent Oil
Brent oil is currently trying to settle below the $77.50 level. Rising Treasury yields and strong dollar put additional pressure on oil markets.
In case Brent oil declines below the support at $77.50, it will move towards the next support level at $72.50 – $73.50.
For a look at all of today’s economic events, check out our economic calendar.
