Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Russia Signals It Would Reduce Output

Natural Gas

Natural gas tests new lows as traders focus on mild weather and Freeport LNG outage.

In case natural gas manages to settle below the support at $1.60 – $1.65, it will gain additional downside momentum and move towards the $1.50 level.

WTI Oil

WTI oil gains ground amid reports indicating that Russia told its oil companies to cut production in order to comply with the OPEC+ target.

WTI oil managed to stay above the nearest support at $79.00 – $80.00 and looks ready to test the recent highs near the $83.00 level.

Brent Oil

Brent oil is also moving higher, supported by rising geopolitical tensions. U.S. dollar’s pullback has also provided some support to oil markets in today’s trading session.

From the technical point of view, Brent oil received strong support near the $85.00 level and is heading towards $87.50.

For a look at all of today’s economic events, check out our economic calendar.