Natural Gas, WTI Oil, Brent Oil – Oil Rebounds As Earthquake Disrupts Oil Terminal Operations In Turkey

Key Insights

• The current demand for natural gas is low due to warmer weather. 
• WTI oil is trying to settle above the $74 level as traders react to the earthquake in Turkey and Syria. 
• Brent oil managed to climb back above the psychologically important $80 level. 

Natural Gas

Natural gas prices are trying to rebound from multi-month lows. RSI is in the oversold territory, so the risks of a rebound are increasing. However, the weather forecasts remain disappointing, and the current natural gas consumption is low, which is bearish for natural gas prices.

WTI Oil

WTI oil rebounds after Friday’s sell-off. The earthquake in Turkey served as a bullish catalyst as it disrupted oil terminal operations in the country. Bulls are also ready to bet on rising demand from China.

Brent Oil

Brent oil  climbed back above the $80 level as traders reacted to the earthquake in Turkey and Syria. It looks that the rebound of the U.S. dollar limits gains in today’s trading session.

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