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

Natural Gas

Natural gas rallied as traders focused on supply disruptions due to Storm Rafael. Short-covering may have served as an additional bullish catalyst for natural gas.

If natural gas stays above the $2.90 level, it will head towards the resistance at $3.00 – $3.05.

WTI Oil

WTI oil is under strong pressure as traders stay focused on China’s stimulus plan, which fell short of market expectations.

A move below the $68.00 level will lead to the test of the strong support level at $67.00 – $67.50.

Brent Oil

Brent oil is down by more than 2.5% amid broad sell-off in the oil markets.

In case Brent oil manages to settle below the support at $71.00 – $71.50, it will move towards the next support at $67.50 – $68.00.

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