Natural Gas, WTI Oil, Brent Oil – Oil Rebounds From Session Lows

Key Insights

• Natural gas rebounded towards the $2.60 level. 
• WTI oil moved away from session lows as traders bet that problems of U.S. regional banks would not hurt demand for oil. 
• Brent oil climbed towards the $82 level. 

Natural Gas

Natural gas moved towards the $2.60 level as traders focused on the recent changes in weather forecasts. Colder weather is expected to boost natural gas consumption, which is bullish for natural gas markets.

WTI Oil

WTI oil rebounded from session lows as traders bet that U.S. regulators will limit contagion from the collapse of Silicon Valley Bank. Treasury yields declined to multi-week lows, which may provide additional support to oil markets in the upcoming trading sessions.

Brent Oil

Brent oil climbed back towards the $82 level amid a broad rebound in the oil markets. If Brent oil manages to settle back above $82, it will move towards the resistance at the 20 EMA at $83.30.

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