Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs As Traders Focus On Iran-Related Sanctions

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.