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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs Ahead Of The Weekend
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Key Points:
- Natural gas pulled back as traders focused on warmer weather forecasts.
- WTI oil climbed above the $71.00 level as traders focused on geopolitical risks.
- Brent oil managed to settle above the $74.00 level.
Natural Gas
Natural gas retreats as traders focus on forecasts, which predict warmer weather next week.
From the technical point of view, natural gas is heading towards the support level at $3.20 – $3.25.
WTI Oil
WTI oil tests new highs as traders stay focused on the threat of new sanctions on Russia’s shadow fleet.
In case WTI oil settles above the resistance at $72.00 – $72.50, it will head towards the next resistance level at $77.00 – $77.50.
Brent Oil
Brent oil is moving higher as traders focus on geopolitical risks and stay bullish ahead of the weekend.
A move above the $75.00 level will push Brent oil towards the resistance at $77.00 – $77.50.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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