Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Some Ground As Traders Stay Focused On The Middle East

Natural Gas

Natural gas rebounded after yesterday’s sell-off in holiday-thinned trading.

If natural gas settles back above the $3.40 level, it will move towards the nearest resistance at $3.55 – $3.60.

WTI Oil

WTI oil is mostly flat as traders focus on the situation in the Middle East. Israel and Hezbollah accuse each other of ceasefire violation.

If WTI oil settles above the $69.00 level, it will head towards the 50 MA at $70.57. A move above the 50 MA will push WTI oil towards the resistance at $72.00 – $72.50.

Brent Oil

Brent oil gained some ground, supported by tensions in the Middle East. OPEC+ delayed its meeting from December 1 to December 5, but the market did not show strong reaction to this decision.

If Brent oil climbs above the 50 MA at $74.35, it will head towards the resistance level at $77.00 – $77.50.

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