Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Falls As Iraq Restores Production At West Qurna 2

Natural Gas

Natural gas is under strong pressure as traders react to warmer weather forecasts.

In case natural gas settles below the support at $5.00 – $5.05, it will head towards the next support level at $4.70 – $4.75.

WTI Oil

WTI oil is losing ground as Iran restored production at the West Qurna 2 project, which suffered from a leak on an export pipeline.

From the technical point of view, WTI oil failed to settle above the resistance level at $60.00 – $60.50.

Brent Oil

Brent oil is losing ground as traders focus on rising supply. Currently, Brent oil is trying to settle below the $62.50 level.

In case this attempt is successful, Brent oil will head towards the support level at $60.50 – $61.00.

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