Natural Gas, WTI Oil, Brent Oil – Oil Markets Move Higher After A Turbulent Weekend In Russia

Key Insights

• Natural gas prices are moving higher as traders focus on rising demand. 
• WTI oil rebounded towards the $70 level. 
• Brent oil moved closer to the $75 level. 

Natural Gas

Natural gas continues to move higher as traders focus on record-breaking demand in Texas.

If natural gas settles above the resistance in the $2.80 – $2.85 range, it will move towards the next resistance area, which is located in the $3.10 – $3.20 range.

WTI Oil

WTI oil gains some ground as traders react to the recent turmoil in Russia. Russia’s oil exports were not hit and the situation stabilized quickly, but the market sentiment remains bullish.

From the technical point of view, WTI oil continues to rebound from the recent lows. The $67.00 – $67.50 area remains the key support level for WTI oil.

Brent Oil

Brent oil is also moving higher as the rebound continues. Rising demand during the vacation season provides additional support to oil markets.

A move above the $70.50 level will open the way to the test of the next resistance level at $72.45 – $73.15.

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