Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As East Libya Government Halts Sales

Natural Gas

Natural gas tests new lows as traders stay focused on the recent EIA report, which showed that working gas in storage increased by 35 Bcf from the previous week.

If natural gas settles below the $2.00 level, it will move towards the next support at $1.80 – $1.85.

WTI Oil

WTI oil rallies as traders react to the developments in the Middle East. Libya’s eastern government decided to halt oil production and exports amid political dispute over control of the country’s central bank.

If WTI oil climbs above the $78.00 level, it will move towards the next resistance at $79.50 – $80.00.

Brent Oil

Brent oil gained strong upside momentum amid worries about oil supply in the Middle East.

A move above the resistance at $81.50 – $82.00 will push Brent oil towards the next resistance level at $85.50 – $86.00.

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