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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Traders Focus On China’s Stimulus Plans
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Key Points:
- Natural gas moved away from session lows and settled back above the $3.15 level.
- WTI oil made an attempt to settle above the $69.00 level.
- Brent oil moved higher, supported by tensions in the Middle East.
In this article:
Natural Gas
Natural gas managed to rebound from session lows as traders bet that colder weather would provide some support to the market.
A move above the resistance at $3.20 – $3.25 will push natural gas towards the next resistance level at $3.55 – $3.60.
WTI Oil
WTI oil gained some ground despite disappointing exports and imports data from China. Recent reports indicate that China will provide additional stimulus in 2025 to boost economic growth, which is bullish for oil markets.
If WTI oil climbs above the $69.00 level, it will move towards the 50 MA at $70.35.
Brent Oil
Brent oil is moving higher, supported by China’s stimulus plans and tensions in the Middle East.
From the technical point of view, Brent oil needs to settle above the $73.00 level to gain additional upside 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
Vladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.
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