Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back From Session Highs As Hamas Accepts A Ceasefire Proposal - Nasdaq

Natural Gas, WTI Oil, Brent Oil Forecasts - Oil Pulls Back From Session Highs As Hamas Accepts A Ceasefire Proposal | Nasdaq

Natural gas tests new highs as traders focus on hot temperatures in Texas, which boost demand.

In case natural gas settles above the 50 MA at $2.20, it will move towards the next resistance level at $2.45 – $2.50.

WTI Oil

WTI oil pulled back from session highs amid reports indicating that Hamas agreed to a ceasefire proposal. An Israeli official has said that no ceasefire has been achieved in Gaza, according to Reuters.

From the technical point of view, WTI oil needs to settle back above the $80.00 level to have a chance to gain sustainable upside momentum.

Brent Oil

Brent oil is also swinging between gains and losses as traders focus on the situation in the Middle East.

In case Brent oil settles below the $83.00 level, it will head towards the next support, which is located in the $80.00 – $81.00 range.

For a look at all of today’s economic events, check out our economic calendar.

This article was originally posted on FX Empire

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