Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Soared As Iran Fired Missiles At Israel

Natural Gas

Natural gas remains stuck near the resistance at $2.85 – $2.90 as traders wait for additional catalysts.

If natural gas manages to settle above the $2.90 level, it will gain additional upside momentum and move towards the $3.05 level.

WTI Oil

WTI oil rallied as Iran fired missiles at Israel. Various fake videos appeared on social media after the attack, so traders should stay cautious and wait for official information. At this point, it looks that the market does not believe in a major war between Israel and Iran.

WTI oil faced resistance near the $72.00 level and pulled back. In the near term, the market will stay news-driven.

Brent Oil

Brent oil rallied as traders focused on tensions in the Middle East. However, traders have already started to take profits off the table as the attack ended.

From the technical point of view, Brent oil needs to stay above the $73.00 level to have a chance to gain additional upside momentum in the near term.

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