Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Soars As U.S. Sanctions Russia’s Rosneft And Lukoil

Natural Gas

Natural gas pulls back as traders react to the EIA report, which indicated that working gas in storage increased by +87 Bcf from the previous week.

In case natural gas settles below the support at $3.25 – $3.30, it will head towards the next support level, which is located in the $3.00 – $3.05 range.

WTI Oil

WTI oil rallied as U.S. imposed sanctions on Russia’s biggest oil companies Rosneft and Lukoil.

A move above the 50 MA at $62.28 will push WTI oil towards the next resistance level at $66.00 – $66.50.

Brent Oil

Brent oil tested new highs as traders bet that China and India would be forced to cut purchases of Russian oil.

In case Brent oil settles above the $66.00 level, it will head towards the resistance at $69.00 – $69.50.

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