Natural gas is attempting to recover following yesterday’s sell-off, which was initiated by the underwhelming EIA report. If natural gas ascends above the $4.05 mark, it will progress towards the resistance zone at $4.25 – $4.30.
WTI oil has rebounded from its session lows as traders continue to focus on new Iran-related sanctions and OPEC+ plans to reduce output for members who have previously exceeded their quotas. Should WTI oil settle above recent peaks at $68.70, it will advance towards the significant $70.00 level.
Brent oil has successfully climbed back above the $72.00 threshold as traders maintain a bullish stance heading into the weekend. If Brent oil settles above $72.00, it will move towards the 50 MA at $74.84.
— news from FX Empire