Natural Gas, WTI Oil, Brent Oil – Oil Markets Rebound From Session Lows

Key Insights

• Natural gas continues to move higher as short sellers exit their positions. 
• Oil moved away from session lows as traders focused on the upcoming production cuts in Russia. 
• Stronger dollar and higher Treasury yields continue to serve as important bearish catalysts for oil markets. 

Natural Gas

Natural gas continues to rebound as short sellers are closing their positions. Traders also bet that colder weather will boost demand for natural gas. In case natural gas settles above the 20 EMA near the $2.60 level, it will have a good chance to gain solid upside momentum.

WTI Oil

WTI oil rebounded from session lows as traders focused on the upcoming production cuts in Russia. The country has previously announced that it would cut production by 500,000 bpd in March.

Brent Oil

Brent oil has also moved away from session lows despite stronger dollar and rising Treasury yields. While higher interest rates remain an important bearish catalyst for oil markets, traders are also focused on rising demand from China, so oil remains in a wide range.

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