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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats From Session Highs As Trump Delays Decision On Iran Strike
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Key Points:
- Natural gas markets stay bullish as weather forecasts point to warm weather.
- WTI oil declined from session highs after Donald Trump said that he needed two weeks to decide whether U.S. should strike Iran.
- Brent oil pulled back towards the $77.00 level.
Natural Gas
Natural gas traders remained bullish as weather forecasts pointed to high demand in the upcoming days.
From the technical point of view, natural gas is moving towards the resistance level at $4.15 – $4.20.
WTI Oil
WTI oil pulled back from session highs as President Donald Trump will decide whether U.S. will strike Iran within two weeks.
In case WTI oil settles back below the $75.00 level, it will head towards the support at $71.50 – $72.00.
Brent Oil
Brent oil has also moved away from recent highs as traders focused on Trump’s comments.
From the technical point of view, Brent oil needs to settle below the support at $75.00 – $75.50 to gain additional downside momentum in the near term.
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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