Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds From Session Lows As Traders Focus On Geopolitics
Natural Gas
Natural gas tests new lows as traders react to the EIA Weekly Natural Gas Storage Report, which indicated that working gas in storage increased by 92 Bcf from the previous week.
A move below the $1.60 level will provide natural gas with an opportunity to gain additional downside momentum.
WTI Oil
WTI oil rebounded from session lows and moved higher despite the disappointing U.S. GDP Growth Rate report. It looks that Middle East tensions provide sufficient support to oil markets.
If WTI oil climbs above the $84.00 level, it will move towards the resistance at $85.50 – $86.50.
Brent Oil
Brent oil has also managed to move away from session lows as traders focused on geopolitical risks.
From the technical point of view, Brent oil remains stuck below the key resistance at $89.00 – $90.00.
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