Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Dives 3% Amid Demand Worries

Natural Gas

Natural gas settled near the $1.70 level as traders prepared for tomorrow’s EIA report, which is expected to show that working gas in storage increased by 54 Bcf.

The technical picture remains uninspiring for the bulls, and natural gas needs positive catalysts to break the current trend.

WTI Oil

WTI oil suffered a sell-off as traders reacted to the EIA report, which showed that crude inventories increased by 2.7 million barrels from the previous week. It looks that traders also worry about high interest rates and their potential impact on oil demand.

If WTI oil settles below the $82.00 level, it will head towards the nearest support at $79.00 – $80.00.

Brent Oil

Brent oil has also found itself under strong pressure amid a broad sell-off in the oil markets.

A move below the $87.00 level will open the way to the test of the nearest support, which is located in the $83.50 – $84.50 range.

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