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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs As Traders Focus On Iran-Related Sanctions
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Key Points:
- Natural gas tested the $3.05 level.
- WTI oil gained ground as traders focused on new sanctions against Iranian oil supply.
- Brent oil climbed towards the $69.00 level.
Natural Gas
Natural gas made an attempt to settle above the $3.05 level but lost momentum and pulled back.
The technical picture remains unchanged as natural gas needs to settle above $3.05 to gain additional upside momentum.
WTI Oil
WTI oil gains ground as the U.S. imposed additional Iran-related sanctions to put more pressure on the country.
A successful test of the resistance at $66.00 – $66.50 will open the way to the test of the next resistance level at $71.50 – $72.00.
Brent Oil
Brent oil tests new highs as traders bet that new sanctions will hurt supply from Iran.
In case Brent oil settles above the $70.00 level, it will head towards the resistance level at $71.00 – $71.50.
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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