Forecasts for Natural Gas, WTI Oil, Brent Oil – Oil markets mostly flat as traders ignore rising Treasury yields

FXEmpire.com –

Natural gas

Natural Gas 070624 Daily Chart

Natural gas is testing new highs as traders focus on weather forecasts. Warm weather would lead to higher demand for cooling, which is bullish for natural gas prices.

Technically, natural gas has moved above the $2.80-$2.85 resistance and is headed for the next resistance at $3.02-$3.09.

WTI oil

WTI Oil 070624 Daily chart

WTI crude is largely flat despite a strong dollar and rising Treasury yields. Traders are not ready for big moves before the weekend.

If WTI oil settles above $75.50, it will head towards the next resistance level at $79.00 – $80.00.

Brent oil

Brent Oil 070624 Daily Chart

Brent oil is also flat as traders shrug off Fed concerns. It looks like the market needs some time to stabilize after the recent volatility.

A move above the $81.00 level will push Brent oil towards the next significant resistance level at $84.50 – $85.00.

To see all of today’s economic events, see our economic calendar.

This article was originally posted on FX Empire

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