Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds As Geopolitical Risks Increase

Key Insights

• Natural gas gains ground as traders focus on cooler weather. 
• WTI oil rebounded from session lows as geopolitical risks increased. 
• Brent oil moved back above the $88.00 level. 

Natural Gas

Natural gas continues to move higher as traders focus on the recent bullish changes in weather forecasts.

A move above the resistance at $3.00 – $3.05 will provide natural gas with an opportunity to gain sustainable upside momentum.

WTI Oil

WTI oil rebounds as traders react to the reports indicating that Israel continues to prepare for a ground operation against Hamas in Gaza.

The nearest resistance for WTI oil is located in the $86.00 – $87.30 range. A move above $87.30 will push WTI oil towards the resistance at $92.50 – $94.00.

Brent Oil

Brent oil has also gained strong upside momentum as traders focused on the developments in the Middle East.

If Brent oil climbs above the $90.00 level, it will head towards the resistance at $95.00 – $96.00.

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