Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Moves Higher As Traders Stay Focused On Geopolitics

Natural Gas

Natural gas gains ground as traders focused on cold weather, which will increase demand for energy.

A move above the $4.80 level will open the way to the test of the resistance at $5.00 – $5.05.

WTI Oil

WTI oil moved higher as traders remained focused on geopolitical developments. Hungary’s Orban visited Russia’s Putin in Moscow to discuss Ukraine peace deal and energy.

From the technical point of view, WTI oil needs to settle above the resistance at $60.00 – $60.50 to gain additional upside momentum in the near term.

Brent Oil

Brent oil was mostly unchanged as traders reacted to geopolitical developments. Rising supply serves as a bearish catalyst for Brent oil.

If Brent oil manages to settle above the $63.50 level, it will head towards the nearest resistance level, which is located in the $64.50 – $65.00 range.

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