Natural Gas, WTI Oil, Brent Oil – Oil Markets Rebound From Yearly Lows
Published: Mar 20, 2023, 16:44 UTC•1min read
Oil markets moved away from recent lows as financial crisis fears eased.
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- Natural gas remains under strong pressure a lack of upside catalysts.
- WTI oil rebounded above the $66 level amid growing appetite for risk.
- Brent oil managed to get back above the $72 level after an unsuccessful attempt to settle below $70.
Natural gas managed to settle below the support at $2.35 and declined towards the $2.25 level. In case natural gas settles below this level, it will head towards the next material support level at the yearly lows near the $2.00 level.
WTI oil tested yearly lows but lost momentum and rebounded above the $66 level. Traders bet that regulators will be able to contain the banking crisis, which will be bullish for oil markets.
Brent oil has also rebounded from session lows. Currently, Brent oil is trying to settle above the $72.00 level. In case this attempt is successful, Brent oil will head towards the $74 level.
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