Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds From Session Lows As Netanyahu Says Rafah Operation Is Inevitable

Natural Gas

Natural Gas is losing ground after an unsuccessful attempt to settle above the $2.00 level.

In case natural gas settles below $1.90, it will gain additional downside momentum and move towards the support at $1.60 – $1.65.

WTI Oil

WTI oil pulls back as traders react to the disappointing CB Consumer Confidence report and focus on tomorrow’s Fed Interest Rate Decision. Israeli Prime Minister Benjamin Netanyahu has recently said that the country would carry out an operation against Hamas in Rafah in any case, which could provide some support to oil markets.

From the technical point of view, WTI oil did not manage to settle below the 50 MA, which is a good sign for the bulls.

Brent Oil

Brent oil tested new lows amid a broad pullback in commodity markets which was triggered by rising Treasury yields and worries about hawkish Fed.

It should be noted that Brent oil managed to rebound from session lows. A move above the $87.50 level will push Brent oil towards the nearest resistance at $89.00 – $90.00.

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