Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Dives As U.S. Gasoline Stocks Rise

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.

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