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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Dives As U.S. Gasoline Stocks Rise
By:
Live PriceNatural Gas
$2.88900
+2.59%
Oil traders stay focused on the weakness of oil demand.
Key Insights
- Natural gas moved below the $2.60 level due to mild weather forecasts.
- WTI oil settled below $70.00 as traders reacted to the EIA report.
- Brent oil tested new lows amid demand worries.
Natural Gas
Natural gas tested new lows as traders remained focused on bearish weather forecasts.
If natural gas stays below the $2.60 level, it will head towards the support at $2.40 – $2.45.
WTI Oil
WTI oil suffered a sell-off as EIA report indicated that gasoline inventories increased by 5.4 million barrels.
If WTI oil settles below the $70.00 level, it will head towards the nearest support at $67.50 – $68.50.
Brent Oil
Brent oil tested new lows as traders remained worried about the strength of demand for oil.
A move below the $74.00 level will open the way to the test of the support at $71.75 – $73.00.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir ZernovFutures Trading Expert
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.
