Natural Gas, WTI Oil, Brent Oil – Oil Gains Ground As Traders Focus On Supply Risks

Key Insights

• Natural gas failed to settle above $2.80 and pulled back. 
• WTI oil moved towards the $77 level. 
• Brent oil settled back above the psychologically important $80 level. 

Natural Gas

Natural gas pulled back after an unsuccessful attempt to climb above the $2.80 level.

From the technical point of view, natural gas has found itself in a range between the support at $2.60 and the resistance at $2.85.

WTI Oil

WTI oil is moving higher as traders focus on supply risks. Traders are worried that oil supply routes in the Black Sea may get hit after the end of the Black Sea grain deal.

The technical picture remains bullish as WTI oil has quickly managed to rebound after the recent pullback.

Brent Oil

Brent oil settled back above the $80 level. The oil market is also supported by new stimulus measures in China.

RSI remains in the moderate territory, and there is plenty of room to gain additional upside momentum in the upcoming trading sessions.

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