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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Trump Warns Of Potential Tariffs On Buyers Of Russian Oil
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Key Points:
- Natural gas moved higher as traders reacted to bullish weather forecasts.
- WTI oil gained upside momentum as Donald Trump threatened to impose tariffs on buyers of Russian oil in case the country failed to negotiate a ceasefire deal.
- Brent oil rallied towards the psychologically important $75.00 level.
Natural Gas
Natural gas gains ground as traders focus on changes in weather forecasts, which indicate that demand could increase on April 7.
From the technical point of view, natural gas needs to settle above the resistance at $4.25 – $4.30 to gain additional upside momentum in the near term.
WTI Oil
WTI oil is moving higher as Donald Trump warned about secondary tariffs on buyers of Russian oil.
A move above the $72.00 level will push WTI oil towards the resistance level at $73.00 – $73.50.
Brent Oil
Brent oil tests new highs as Trump has also threatened to attack Iran in case the country does not agree to a nuclear deal.
If Brent oil climbs above the $75.00 level, it will head towards the resistance, which is located in the $77.00 – $77.50 range.
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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