Advertisement
Advertisement
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs As Crude Inventories Drop
By:
Key Points:
- Natural gas settled near $3.75 as traders switched to March 2026 contract.
- WTI oil made an attempt to settle above the $63.50 level as traders focused on the EIA report.
- Brent oil settled near the $68.00 level.
Natural Gas
Natural gas settled near the $3.75 level as traders switched from February 2026 contract to March 2026 contract.
From the technical point of view, natural gas settled between the support at $3.50 – $3.55 and the resistance at $3.95 – $4.00.
WTI Oil
WTI oil tested new highs as traders reacted to the EIA report. The report indicated that crude inventories decreased by -2.3 million barrels from the previous week, compared to analyst forecast of +1.8 million barrels.
In case WTI oil manages to settle above the $63.50 level, it will head towards the next resistance at $65.50 – $66.00.
Brent Oil
Brent oil gained ground as traders remained focused on the situation in Iran and evaluated supply risks.
A move above the $68.50 level will push Brent oil towards the resistance at $69.50 – $70.00.
If you’d like to know more about how commodity markets work, please visit our educational area.
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.
Advertisement