Natural Gas, WTI Oil, Brent Oil – Oil Moves Higher Despite Rising Treasury Yields

Key Insights

• Natural gas rallies as traders focus on hot weather. 
• WTI oil gained some ground while traders waited for additional catalysts. 
• Brent oil remained stuck below the $80 level. 

Natural Gas

Natural gas rallied as traders reacted to the EIA report and bullish changes in weather forecasts.

From the technical point of view, natural gas moved back towards the resistance in the $2.80 – $2.85 range. This resistance level has been tested many times and proved its strength.

WTI Oil

WTI oil gains some ground as traders wait for additional catalysts. Rising Treasury yields and stronger dollar did not put material pressure on oil markets.

WTI oil has stabilized between the support at $73.15 and the resistance at $77.30, and it will need additional catalysts to gain momentum.

Brent Oil

Brent oil is also swinging between gains and losses in today’s trading session.

RSI remains in the moderate territory, so Brent oil has plenty of room to gain momentum in case the right catalysts emerge.

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