Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Crude Inventories Drop By 1 Million Barrels

Natural Gas

Natural gas is trying to settle above the resistance at $3.55 – $3.60 as traders bet on rising demand.

A move above the $3.60 level will open the way to the test of the resistance level at $4.00 – $4.05.

WTI Oil

WTI oil gains ground as traders react to the EIA report, which indicated that crude inventories decreased by 1 million barrels from the previous week.

In case WTI oil settles above the $58.50 level, it will head towards the resistance at $60.00 – $60.50.

Brent Oil

Brent oil is moving higher, supported by falling gasoline inventories in the U.S. The EIA report showed that gasoline inventories decreased by -2.1 million barrels from the previous week, compared to analyst forecast of -0.8 million barrels.

A move above the $63.00 level will push Brent oil towards the resistance at $64.50 – $65.00.

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