Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Dives 3.5% As Traders Focus On China Tariffs

Natural Gas

Natural gas is under strong pressure as traders react to EIA report, which indicated that working gas in storage increased by +57 Bcf from the previous week.

A move below the $3.50 level will push natural gas towards the support at $3.35 – $3.40.

WTI Oil

WTI oil pulled back as traders focused on China tariffs. At this point, tariffs on China total as much as 145%.

If WTI oil settles below the $60.00 level, it will head towards the nearest support at $57.50 – $58.00.

Brent Oil

Brent oil has also suffered a sell-off amid worries that U.S. and China will not reach a deal in the near term.

RSI has recently moved back into the moderate territory, so there is plenty of room to gain momentum in the near term.

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