Saudi Arabia's Plans Send Oil Prices Soaring Amid Escalation Fears

Natural Gas and Oil prices are on the move as traders focus on potential escalation in the Middle East. According to reports, Saudi Arabia is planning to attack the Houthis, which could lead to a direct conflict between Iran and Saudi Arabia.

The potential attack against the Houthis could have a major impact on oil prices, with some analysts predicting that WTI oil could rise above $92.50 - $93.00 if it settles above the $91.00 level.

Currently, Brent oil is trying to settle above the resistance at $101.50 - $102.00, and a successful test of this level could open the way for a move towards the next resistance level at $109.00 - $109.50.