Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Soars 4% As U.S. Discusses Potential Israeli Attacks On Iran’s Oil Facilities

Natural Gas

Natural gas gains ground as traders react to the EIA report, which indicated that working gas in storage increased by 55 Bcf from the previous week.

A move above the $3.00 level will push natural gas towards the nearest resistance, which is located in the $3.05 – $3.10 range.

WTI Oil

WTI oil rallied as President Biden said that U.S. was discussing potential Israeli attacks on Iran’s oil facilities.

If WTI oil stays above the $72.50 level, it will head towards the next resistance level at $77.00 – $77.50.

Brent Oil

Brent oil gained strong upside momentum amid broad rally in the oil markets. In the near term, traders will stay focused on the news from the Middle East.

In case Brent oil settles above the nearest resistance at $77.00 – $77.50, it will head towards the next resistance level at $81.00 – $81.50.

For a look at all of today’s economic events, check out our economic calendar.