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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As Traders Focus On Ceasefire In Middle East
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Key Points:
- Natural gas gains ground as traders switch to January 2025 contract.
- WTI oil pulled back as traders reacted to the ceasefire deal between Israel and Hezbollah.
- Brent oil pulled back below the $73.00 level.
Natural Gas
Natural gas gains ground as traders switch from December 2024 contract to January 2025 contract.
From the technical point of view, natural gas needs to settle above the $3.60 level to gain additional momentum.
WTI Oil
WTI oil pulls back as Israel’s Netanyahu says that he is ready to implement the ceasefire deal.
If WTI oil pulls back below $68.00, it will move towards the support at $67.00 – $67.50.
Brent Oil
Brent oil retreats as traders react to the recent developments in the Middle East.
A move below the $72.00 level will push Brent oil towards the support at $71.00 – $71.50.
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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