Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Is Mostly Flat As Traders Stay Cautious

Key Insights

• Natural gas retreats due to bearish weather forecasts. 
• WTI oil settled above the $71.00 level as traders waited for additional catalysts. 
• Brent oil managed to stay above the psychologically important $75.00 level. 

Natural Gas

Natural gas is under strong pressure as bearish weather forecasts eliminate any hopes for a quick rebound.

In case natural gas settles below the support at $2.40 – $2.45, it will head towards the strong support level, which is located in the $2.00 – $2.10 range.

WTI Oil

WTI oil is swinging between gains and losses as traders wait for additional catalysts.

If WTI oil settles above $71.00, it will move towards the nearest resistance level at $73.00 – $74.00.

Brent Oil

Brent oil is mostly flat as traders remain cautious ahead of central banks’ decisions, which will be released this week.

From the technical point of view, the near-term trend stays bearish. Brent oil needs to settle above the resistance at $77.50 – $78.25 to have a chance to gain sustainable upside momentum.

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