Natural Gas
Natural gas is losing ground as traders react to the EIA report, which indicated that working gas in storage increased by 18 Bcf from the previous week.
In case natural gas settles below the $2.00 level, it will move towards the next support at $1.80 – $1.85.
WTI Oil
WTI oil retreats as traders shrug off worries about potential escalation in the Middle East and focus on demand/supply balance.
A move below the support at $75.50 – $76.50 will push WTI oil towards the next support at $71.50 – $72.50.
Brent Oil
Brent oil is losing ground amid broad pullback in the oil markets. It looks that yesterday’s rally was mostly driven by short-covering.
In case Brent oil settles below the $79.50 level, it will head towards the nearest support, which is located in the $77.00 – $78.00 range.
Natural Gas Price Forecast
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