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Market Impact: 0.85

Natural Gas and Oil Forecast: Oil Surges to $105 – Is a $120 Breakout Next?

Energy Markets & PricesCommodities & Raw MaterialsGeopolitics & WarCommodity FuturesNatural Disasters & WeatherMarket Technicals & Flows

Oil reached $105 as geopolitical risks threaten roughly 20% of global supply, with WTI eyeing a $111 breakout. Natural gas is pressured by elevated storage levels and mild weather, keeping downward pressure on gas prices in the near term.

Analysis

Oil reached $105 as geopolitical risks threaten roughly 20% of global supply, with WTI eyeing a $111 breakout. Natural gas is pressured by elevated storage levels and mild weather, keeping downward pressure on gas prices in the near term.

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Market Sentiment

Overall Sentiment

mildly negative

Sentiment Score

-0.35