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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Gain Some Ground Ahead Of The Weekend
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Key Points:
- Natural gas is mostly flat as the market stabilizes after the strong pullback.
- WTI oil moved away from session lows as traders hoped that China and U.S. will find a way to start tariff negotiations.
- Brent oil climbed towards the $67.00 level.
Natural Gas
Natural gas is mostly flat as traders stay focused on weather forecasts and prepare to switch to June 2025 contract.
RSI is in the oversold territory, so the risks of a rebound are increasing. However, natural gas needs material positive catalysts to break the current trend.
WTI Oil
WTI oil is swinging between gains and losses as traders react to tariff news. China exempted some U.S. imports from tariffs, and traders hope that this was the first step towards a comprehensive deal between two countries.
The technical picture remains unchanged as WTI oil is stuck near the resistance at $62.50 – $63.00.
Brent Oil
Brent oil continues its attempts to settle above the nearest resistance level at $67.00 – $67.50.
If Brent oil climbs above the $67.50 level, it will move towards the resistance at $71.00 – $71.50.
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, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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