Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Drops 2.5% As Traders Prepare For OPEC+ Meeting

Natural Gas

Natural gas is losing some ground as traders take some profits off the table after the strong rebound from August lows.

From the technical point of view, natural gas needs to stay above the $3.05 level to have a chance to gain upside momentum in the near term.

WTI Oil

WTI oil is under strong pressure amid reports indicating that Saudi Arabia wants to raise production at the OPEC+ meeting on Sunday.

If WTI oil settles below the $61.50 level, it will head towards the nearest support at $60.00 – $60.50.

Brent Oil

Brent oil is losing ground as traders worry that rising supply will put additional pressure on prices.

A move below the $65.00 level will push Brent oil towards the support level at $63.50 – $64.00.

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