Natural Gas Prices Rise Amid Supply Constraints, Oil Prices Rebound on Middle East Tensions

Natural gas prices have increased slightly following a report from the EIA that storage levels rose by 44 Bcf, below forecasts but above the five-year average. This has pushed prices to test resistance near $2.95 and potentially rise towards $3.00-$3.05 if momentum builds.

Ongoing tensions in the Middle East, including pipeline damage in Saudi Arabia and a naval blockade of Iranian ports, have also contributed to the increase in oil prices. WTI and Brent oil prices have rebounded due to these geopolitical risks, with key resistance levels at $102.50-$103.00 for WTI and $105.00 for Brent.

In other market news, 105 out of 150 priced stocks on Pluang rose while 44 fell today, including notable movers IQ (IQIYI Inc - ADR) up +6.48%, SPCE (Virgin Galactic Holdings, Inc.) at USD 3.12 with a +6.31% gain, and BB (BlackBerry Limited) rising +5.89%.