Natural Gas, WTI Oil, and Brent Oil Forecasts: Navigating New Highs Amid Rising Middle East Conflict Risks
Natural Gas Outlook
Natural gas is losing ground as traders focus on Hurricane Milton, which may hurt demand for energy. From a technical perspective, natural gas settled below the support at $2.85 – $2.90 and is moving toward the next support level at $2.60 – $2.65.
WTI Oil Analysis
WTI oil is testing new highs as traders remain concentrated on the situation in the Middle East. Short-covering has served as a significant catalyst for this rally. A successful test of the $81.00 – $81.50 resistance will enable a challenge of the next resistance level at $85.50 – $86.00.
Brent Oil Evaluation
Brent oil has rallied above $80.00 as traders assess the potential for a major conflict in the Middle East. An upward move beyond the $81.50 level may propel Brent oil towards resistance at $85.50 – $86.00.
Further Insights
For a look at all of today’s economic events, refer to our economic calendar.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.