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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs On Tariff Hopes
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Key Points:
- Natural gas gains ground as traders bet on rising demand.
- WTI oil moved higher as traders hoped that U.S. - China talks would be successful.
- Brent oil climbed towards the $64.00 level.
Natural Gas
Natural gas gains ground as traders bet that demand will increase due to warmer weather.
If natural gas settles above the $3.80 level, it will head towards the resistance level at $3.95 – $4.00.
WTI Oil
WTI oil tests new highs as traders stay bullish ahead of U.S. – China trade talks. Rising tensions in the Middle East provide additional support to oil markets.
In case WTI oil settles above the $61.00 level, it will head towards the resistance at $62.50 – $63.00.
Brent Oil
Brent oil is trying to settle above the $64.00 level as traders bet that U.S. and China will lower tariffs.
If Brent oil climbs above $64.00, it will head towards the nearest resistance level at $67.00 – $67.50.
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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