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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Traders Focus On Potential Supply Disruptions
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Key Points:
- Natural gas pulled back as traders focused on changes in weather forecasts.
- WTI oil moved higher amid reports indicating several China ports blacklisted sanctioned vessels.
- Brent oil climbed towards the $77.00 level.
Natural Gas
Natural gas pulled back as traders focused on bearish changes in weather forecasts, which indicate that weather may be less cold than previously expected.
If natural gas stays below the support at $3.55 – $3.60, it will move towards the next support level at $3.25 – $3.30.
WTI Oil
WTI oil gains ground as traders focus on potential supply disruptions. U.S. increases pressure on sanctioned vessels and forces China to comply.
In case WTI oil climbs above the recent highs near the $75.00 level, it will move towards the next resistance level at $77.00 – $77.50.
Brent Oil
Brent oil tests resistance at $77.00 – $77.50 amid broad rally in the energy markets.
In case this test is successful, Brent oil will head towards the next resistance level at $81.00 – $81.50.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
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