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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds As Middle East Tensions Persist
Natural Gas: chart Natural gas rallied as traders focused on frigid forecasts. Colder weather will boost demand, which is bullish for natural gas prices. If natural gas settles above the resistance at $3.22 – $3.28, it will head towards the next resistance level at $3.55 – $3.60. WTI Oil: chart WTI oil rebounded as traders focused on rising tensions in the Middle East and the production outage in Libya. According to recent reports, 300,000 bpd of supply remain offline in Libya. If WTI oil climbs above the resistance at $73.00 – $74.00, it will head towards the next resistance level at $79.00 – $80.00. ... (full story)