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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs As Trump Plans To Cut Venezuelan Exports
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Key Points:
- Natural gas retreats as traders react to warmer weather.
- WTI oil gains ground as traders focus on plans to cut Venezuelan exports.
- Brent oil climbed towards the $73.00 level.
Natural Gas
Natural gas pulled back as traders focused on warmer weather, which is bearish for natural gas prices.
In case natural gas settles below the $3.90 level, it will move towards the support at $3.70 – $3.75.
WTI Oil
WTI oil tests new highs as U.S. President Donald Trump announced that countries that buy Venezuelan oil will face 25% tariffs.
If WTI oil climbs above the $70.00 level, it will head towards the 50 MA at $71.20.
Brent Oil
Brent oil is moving higher as traders focus on Trump’s plans to reduce exports from Venezuela.
A move above the $73.00 level will push Brent oil towards the 50 MA at $74.68.
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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