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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds From Session Lows Amid Rising Appetite For Risk
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Key Points:
- Natural gas managed to move back above the $2.00 level.
- WTI oil moved away from session lows as some traders were ready to bet on a rebound.
- Brent oil climbed back above the $76.50 level.
Natural Gas
Natural gas prices are moving higher as traders focus on the impact of Hurricane Debby, which made landfall on Monday.
In case natural gas manages to settle back above the resistance at $2.00 – $2.05, it will move towards the next resistance level, which is located in the $2.25 – $2.30 range.
WTI Oil
WTI oil rebounded from session lows as the market stabilized after the strong pullback, which was driven by recession worries.
If WTI oil manages to settle back above the $74.00 level, it will move towards the resistance at $75.50 – $76.50.
Brent Oil
Brent oil has also managed to move away from session lows as traders’ appetite for risk increased.
A move above the $78.00 level will push Brent oil towards the resistance, which is located in the $81.50 – $82.50 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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