Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Soars As On Worries U.S. Could Strike Iran

Natural Gas

Natural gas gains ground as traders react to the EIA Weekly Natural Gas Storage Report, which indicated that working gas in storage decreased by -242 Bcf from the previous week.

A successful test of the resistance level at $3.95 – $4.00 will open the way to the test of the next resistance at $4.55 – $4.00.

WTI Oil

WTI oil tests new highs as traders worry that U.S. may strike Iran. U.S. President Donald Trump warned Iran that time was running out and the country should negotiate a deal.

In case WTI oil manages to settle above the resistance at $65.50 – $66.00, it will head towards the next resistance level at $70.00 – $70.50.

Brent Oil

Brent oil oil rallied above the $70.00 level as traders focused on supply risks. RSI is in the overbought territory, but there is enough room to gain momentum in case the right catalysts emerge.

If Brent oil stays above the $70.00 level, it will move towards the resistance level at $73.00 – $73.50.

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