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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Drops 2% Amid Profit-Taking
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Key Points:
- Natural gas is flat as traders wait for additional catalysts.
- WTI oil declined below the $63.50 level as traders took profits after recent rally.
- Brent oil pulled back towards the $67.00 level.
Natural Gas
Natural gas is mostly flat as natural gas traders prepare to switch from September 2025 contract to October 2025 contract.
A move above the $2.75 level will provide natural gas with a chance to gain additional upside momentum.
WTI Oil
WTI oil retreats as traders take profits after recent rally and evaluate Russian oil supply outlook.
In case WTI oil declines below the $62.00 level, it will head towards the next support at $60.00 – $60.50.
Brent Oil
Brent oil failed to settle above the 50 MA at $68.93 and pulled back below the $67.50 level.
If Brent oil declines below the $67.00 level, it will head towards recent lows near the $65.00 level.
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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