Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Is Under Strong Pressure As Geopolitical Premium Declines

By:

Vladimir Zernov

Published: Nov 25, 2024, 19:13 GMT+00:00

Key Points:

Natural gas rallied as traders focused on recent changes in weather forecasts.
WTI oil is down by more than 3% as Israel may agree to a ceasefire deal with Hezbollah.
Brent oil pulled back towards the $73.00 level.

Natural Gas

Natural Gas 251124 Daily Chart

Natural gas gains ground as traders focus on colder weather forecasts and bet on rising demand.

In case natural gas settles above the $3.40 level, it will head towards the resistance at $3.55 – $3.60.

WTI Oil

WTI Oil 251124 Daily Chart

WTI oil retreats as geopolitical premium declines due to the potential ceasefire between Israel and Hezbollah.

If WTI oil stays below the $69.00 level, it will head towards the support level at $67.00 – $67.50.

Brent Oil

Brent Oil 251124 Daily Chart

Brent oil is losing ground as traders react to the recent developments in the Middle East.

A move below the $73.00 level opens the way to the test of the support level at $71.00 – $71.50.

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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.