Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Attempts To Rebound After Yesterday’s Sell-Off

Natural Gas

Natural gas gains ground as traders react to the EIA report, which indicated that working gas in storage increased by 59 Bcf from the previous week.

In case natural gas settles above the $2.00 level, it will move towards the 50 MA at $2.21.

WTI Oil

WTI oil is swinging between gains and losses as traders remain focused on the recent EIA report, which showed a significant increase in U.S. crude inventories.

In case WTI oil manages to settle below the $79.00 level, it will move towards the next support at $74.50 – $75.50.

Brent Oil

Brent oil is mostly flat as some traders take profits off the table after the recent move.

From the technical point of view, Brent oil needs to climb back above the $84.50 level to have a chance to gain upside momentum in the near term.

For a look at all of today’s economic events, check out our economic calendar.