Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests Multi-Month Highs As Traders Focus On Rising Demand

Natural Gas

Natural gas tests new lows as traders stay bearish despite strong demand for natural gas. Rising production continues to put pressure on natural gas prices.

In case natural gas settles below the support at $2.50 – $2.55, it will move towards the next support level at $2.25 – $2.30.

WTI Oil

WTI oil tests new highs as traders focus on rising demand during the summer driving season.

The nearest resistance level for WTI oil is located in the $83.50 – $84.50 range. In case WTI oil manages to settle above the $84.50 level, it will head towards the next resistance at $87.00 – $87.50.

Brent Oil

Brent oil  gains ground amid broad rally in the oil markets. The prices have returned to levels last seen in April.

A move above the $87.00 level will open the way to the test of the resistance at $88.00 – $89.00.

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