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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Dives 3% As OPEC+ Plans To Boost Supply
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Key Points:
- Natural gas attempts to settle above the $3.30 level.
- WTI oil is down by 3% as OPEC+ is expected to boost production at the meeting on Sunday.
- Brent oil pulled back below the $68.00 level.
Natural Gas
Natural gas gained upside momentum and is trying to settle above the resistance at $3.25 – $3.30.
In case this attempt is successful, natural gas will move towards the resistance at $3.55 – $3.60.
WTI Oil
WTI oil found itself under strong pressure as traders focused on OPEC+ plans to boost production at its meeting on Sunday.
A move below the $63.00 level will push WTI oil towards the support level at $60.00 – $60.50.
Brent Oil
Brent oil tests support at $67.50 – $68.00 as traders focus on rising production from OPEC+ countries.
In case this test is successful, Brent oil will move towards the next support level, which is located in the $64.50 – $65.00 range.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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