Geopolitical Tensions Drive Oil Prices Higher
Oil markets are testing weekly highs as natural gas faces pressure due to anticipated warm weather, while WTI oil attempts to settle above $75.00 following claims by Houthis of an attack on a U.S. military cargo ship, and Brent oil tests the $80.00 level amidst escalating tensions in the Middle East. If natural gas remains below $2.45, it may head towards support at $2.10 - $2.15, while WTI oil could move towards the $79.00 - $80.00 resistance if it settles above $75.00. Brent oil's RSI indicates potential for additional momentum if the right catalysts emerge.