Natural Gas, WTI Oil, Brent Oil – Oil Markets Rebound After Sell-Off

Key Insights

• Natural gas markets remain under pressure in absence of positive catalysts. 
• Oil markets rebound as traders expect robust demand from China. 
• Russia’s recent decision to cut production by 500,000 bpd in March serves as an additional bullish catalyst. 

Natural Gas

Natural gas remains under pressure due to weak demand and warmer weather forecasts. At this point, the market will need significant upside catalysts to get back into the recent trading range.

WTI Oil

WTI oil rebounds after the recent sell-off as traders bet on rising demand from China. Russia’s decision to cut production by 500,000 bpd in March continues to serve as a positive catalyst for oil markets.

Brent Oil

Brent oil is currently trying to settle back above the $84 level. In case this attempt is successful, Brent oil will move towards the 50 EMA at $84.65. From a big picture point of view, Brent oil needs to get above the $90 level to have a chance to develop sustainable upside momentum.

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