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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Soared As Iran Fired Missiles At Israel
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Key Points:
- Natural gas settled near the $2.90 level.
- WTI oil rallied as Iran attacked Israel.
- Brent oil made an attempt to settle above the $75.00 level.
In this article:
Natural Gas
Natural gas remains stuck near the resistance at $2.85 – $2.90 as traders wait for additional catalysts.
If natural gas manages to settle above the $2.90 level, it will gain additional upside momentum and move towards the $3.05 level.
WTI Oil
WTI oil rallied as Iran fired missiles at Israel. Various fake videos appeared on social media after the attack, so traders should stay cautious and wait for official information. At this point, it looks that the market does not believe in a major war between Israel and Iran.
WTI oil faced resistance near the $72.00 level and pulled back. In the near term, the market will stay news-driven.
Brent Oil
Brent oil rallied as traders focused on tensions in the Middle East. However, traders have already started to take profits off the table as the attack ended.
From the technical point of view, Brent oil needs to stay above the $73.00 level to have a chance to gain additional upside momentum in the near term.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
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