Natural Gas, WTI Oil, Brent Oil – Oil Gains Ground As Traders Focus On Supply Risks

Key Insights

• Natural gas prices settled below the $2.10 level. 
• WTI oil moved above $73.50 as Kurdistan exports remained halted. 
• Brent oil climbed above the 20 EMA at $78.20.

Natural Gas

Natural gas remains under pressure due to mild weather forecasts. At this point, rising LNG exports have failed to change the trend in natural gas markets, and it looks that natural gas will need additional positive catalysts to gain upside momentum.

WTI Oil

WTI oil continues to move higher as Kurdistan exports remain halted. From a big picture point of view, prices are moving towards the levels that were seen before markets focused on the problems in the banking sector.

Brent Oil

Brent oil climbed above the 20 EMA at $78.20 and is heading towards the psychologically important $80 level. If Brent oil manages to settle above $80, it will gain additional upside momentum and move towards the 50 EMA at $80.90.

For a look at all of today’s economic events, check out our economic calendar.