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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As Traders Focus On Ceasefire In Middle East

By:
Vladimir Zernov
Published: Nov 26, 2024, 19:06 GMT+00:00

Key Points:

  • Natural gas gains ground as traders switch to January 2025 contract.
  • WTI oil pulled back as traders reacted to the ceasefire deal between Israel and Hezbollah.
  • Brent oil pulled back below the $73.00 level.
Natural Gas, WTI Oil, Brent Oil Forecasts

In this article:

Natural Gas

Natural Gas
Natural Gas 261124 Daily Chart

Natural gas gains ground as traders switch from December 2024 contract to January 2025 contract.

From the technical point of view, natural gas needs to settle above the $3.60 level to gain additional momentum.

WTI Oil

WTI Oil
WTI Oil 261124 Daily Chart

WTI oil pulls back as Israel’s Netanyahu says that he is ready to implement the ceasefire deal.

If WTI oil pulls back below $68.00, it will move towards the support at $67.00 – $67.50.

Brent Oil

Brent Oil
Brent Oil 261124 Daily Chart

Brent oil retreats as traders react to the recent developments in the Middle East.

A move below the $72.00 level will push Brent oil towards the support at $71.00 – $71.50.

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

About the Author

Vladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.

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