Market Analysis Summary - January 8, 2026

Overview

This report provides an analysis of the recent movements in natural gas, WTI oil, and Brent oil markets, highlighting key price levels and market drivers.

Natural Gas

Natural gas prices have experienced a decline, primarily influenced by the latest EIA Weekly Natural Gas Storage Report. The report indicated a decrease in working gas in storage by 119 billion cubic feet (Bcf) from the previous week, slightly exceeding analyst expectations of a 114 Bcf drop. The current price action suggests that if natural gas successfully tests the support level between $3.25 and $3.30, it may lead to further testing of the next support level at $3.05 to $3.10.

WTI Oil

WTI oil has shown a positive trend, climbing above the $57.00 mark. This increase is attributed to traders reacting to U.S. operations aimed at seizing oil tankers linked to Venezuela. Should WTI oil manage to settle above the $57.50 level, it is expected to target the 50-day moving average (MA) at $58.61, indicating a potential bullish momentum.

Brent Oil

Brent oil prices have also rebounded, driven by geopolitical concerns, particularly unrest in Iran, which could affect oil supply flows from the region. A move above the 50-day MA at $62.54 would pave the way for testing resistance levels between $64.50 and $65.00, suggesting a bullish outlook if these levels are breached.

Conclusion

The current market dynamics for natural gas and oil are heavily influenced by storage reports and geopolitical developments. Traders are advised to monitor key support and resistance levels closely as they navigate these markets.

Author Information

This analysis was authored by Vladimir Zernov, an independent trader with over 18 years of experience in the financial markets, specializing in various instruments including stocks, futures, forex, indices, and commodities.