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Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Rebounds From Session Lows
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Key Points:
- Natural gas moved away from session highs on profit-taking.
- WTI oil climbed above the $71.00 level as traders bought the dip.
- Brent oil attempts to settle back above the $75.00 level.
Natural Gas
Natural gas pulled back from session highs as traders took some profits off the table after the strong rally.
If natural gas declines below the $3.55 level, it will head towards the support at $3.20 – $3.25.
WTI Oil
WTI oil rebounded from session lows as Trump’s reciprocal tariffs will not take effect immediately. Traders bet that tariff threat will lead to successful negotiations.
In case WTI oil stays above the $71.00 level, it will head towards the resistance level, which is located in the $73.00 – $73.50 range.
Brent Oil
Brent oil has also managed to rebound from session lows. From a big picture point of view, traders will stay focused on potential U.S. – Russia negotiations, which may have a material impact on the oil market.
A move above the $75.00 level opens the way to the test of the 50 MA at $75.81.
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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