Natural Gas, WTI Oil, Brent Oil – Oil Rebounds From Session Lows As Sentiment Remains Bullish

Key Insights

• Natural gas climbed towards the $2.80 level as traders reacted to bullish weather forecasts. 
• WTI oil found support near the $80 level and moved back above $82.
• Brent oil rebounded towards the $86 level. 

Natural Gas

Natural gas continues to move higher as traders focus on rising demand and bullish changes in weather forecasts.

Natural gas prices are close to the key resistance in the $2.80 – $2.85 range. A move above $2.85 will provide natural gas with an opportunity to gain strong upside momentum.

WTI Oil

WTI oil rebounded from session lows as market sentiment remained bullish. Earlier, WTI oil tested the $80 level as traders reacted to the weak imports and exports data from China.

From the technical point of view, WTI oil has quickly moved back above the resistance in the $80.85 – $81.75 range, which was a bullish development.

Brent Oil

Brent oil has also managed to rebound from session lows as traders focused on tightening supplies and ignored China-related worries.

In case Brent oil manages to settle above the $86.00 level, it will move towards the next resistance in the $88.80 – $90.00 range.

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