Natural Gas
Natural gas is mostly flat as traders react to the EIA report, which indicated that working gas in storage increased by +16 Bcf from the previous week.
If natural gas settles below the $3.20 level, it will get to the test of the nearest support level at $3.05 – $3.10.
WTI Oil
WTI oil rallied as U.S. imposed sanctions on a Chinese importer of Iranian oil. Traders worry that more sanctions would follow, putting additional pressure on Iranian oil flows.
In case WTI oil manages to settle above the $65.00 level, it will head towards the next resistance level at $67.00 – $67.50.
Brent Oil
Brent oil gained ground as traders bet that supply would decline due to Iran-related sanctions.
RSI remains in the moderate territory, and there is plenty of room to gain momentum in the near term.
Natural Gas Price Forecast
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