Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Traders Focus On OPEC+ Production Policy

Natural Gas

Natural gas prices tested new lows but lost momentum and climbed back above the $3.45 level.

If natural gas stays above $3.45, it will head towards the nearest resistance level, which is located in the $3.60 – $3.65 range.

WTI Oil

WTI oil gained ground despite OPEC+ decision to boost production by 548,000 bpd in August. Analysts expected that OPEC+ would raise production by 411,000 bpd.

In case WTI oil climbs above the $68.00 level, it will head towards the resistance level at $71.50 – $72.00.

Brent Oil

Brent oil is moving higher as traders bet that OPEC+ decision highlights the strength of demand for oil.

A move above the $69.00 level will open the way to the test of the resistance at $71.00 – $71.50.

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