Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs As Geopolitical Premium Rises

Natural Gas

Natural gas is trying to settle below the support level at $3.00 – $3.05 as pullback continues.

In case this attempt is successful, natural gas will head towards the next support level, which is located in the $2.70 – $2.75 range.

WTI Oil

WTI oil tests new highs as traders stay focused on potential sanctions on Russia and react to the EIA report, which showed that crude inventories increased by +7.7 million barrels from the previous week.

A successful test of the resistance at $71.50 – $72.00 will open the way to the test of the next resistance at $77.00 – $77.50.

Brent Oil

Brent oil gained ground as strong rally continued. Rising geopolitical premium has been the key driver for oil markets in recent trading sessions.

In case Brent oil settles above the $74.00 level, it will head towards the resistance at $75.00 – $75.50.

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