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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Moves Higher As The U.S. Strikes Houthis
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Key Points:
- Natural gas retreasts as traders react to weather forecasts.
- WTI oil gained ground as the U.S. delivered strikes against Houthis.
- Brent oil continued its attempts to settle above the resistance at $71.00 - $71.50.
Natural Gas
Natural gas pulls back as traders react to mixed weather forecasts. The current demand for natural gas is low, which is bearish for natural gas markets.
A successful test of the support at $4.00 – $4.05 will push natural gas towards the next support level at $3.65 – $3.70.
WTI Oil
WTI oil gains ground as traders focus on the developments in the Middle East. The U.S. attacked Houthis to stop shipping attacks, raising concerns about the safety of oil supply routes in the region.
In case WTI oil manages to settle back above the support at $67.00 – $67.50, it will move towards the $70.00 level.
Brent Oil
Brent oil moved higher as traders focused on the situation in the Middle East.
A successful test of the resistance at $71.00 – $71.50 will push Brent oil towards the 50 MA at $75.33.
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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