Natural Gas, WTI, Brent Rebound After Storage Miss, Iran Deal

“Nuclear negotiation demands involvement of technical experts who must find solutions to complex problems,” the report said. “Political will alone would not be sufficient.” The timeline could stretch beyond 60 days, according to U.S. signals.

WTI crude is trading near $76 after bouncing from the $73.50 area. The first resistance is $76.50-$77.00; a clean break above that band would target $81.00-$81.50. On the downside, a move below recent lows near $73.50 would expose the $70.50-$71.00 support zone.

Brent crude also recovered, pushing back above $80. The psychological level was tested Thursday. Resistance is $81.00-$81.50; clearing that would give the contract room to extend the bounce. The Iran deal framework is the dominant near‑term catalyst, and traders are watching implementation details. See the Dollar Index surge that preceded the deal for context on the broader macro setup.

Both crude benchmarks had fallen hard on Tuesday on fears of increased Iranian supply. The interim deal reduces the immediate risk of a supply‑side shock from a blockade, the market remains cautious on the 60‑day negotiation window. A failure to extend talks or a breakdown in technical discussions on enrichment could reintroduce supply risk. For now, the bounce is a positioning-driven snapback, not a fundamental re-rating. Traders will watch the weekly EIA crude inventory data next Wednesday for confirmation of demand trends.