Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Traders Focus On Cold Weather

By:

Vladimir Zernov

Published: Jan 9, 2025, 18:59 GMT+00:00

Key Points:

Natural gas moved above the $3.75 level as traders reacted to the changes in weather forecasts.
WTI oil attempts to settle above the $74.00 level.
Brent oil moved towards the $77.00 level.

NASDAQ Index, SP500, Dow Jones Forecasts

Natural Gas

Natural Gas 090125 Daily Chart

Natural gas is moving higher, supported by cold weather forecasts which indicate that demand would be strong in the near term.

In case natural gas settles above $3.80, it will head towards the nearest resistance level at $3.95 – $4.00.

WTI Oil

WTI Oil 090125 Daily Chart

WTI oil gains ground as traders bet that cold weather would boost demand for energy.

If WTI oil settles above the $74.00 level, it will move towards the recent highs near the psychologically important $75.00 level.

Brent Oil

Brent Oil 090125 Daily Chart

Brent oil continues its attempts to settle above the resistance at $77.00 – $77.50 amid broad rally in the oil markets.

A move above the $77.50 level will push Brent oil towards the next resistance at $81.00 – $81.50.

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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.