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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Is Moving Lower Ahead Of Trump-Putin Meeting
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Key Points:
- Natural gas attempts to settle above the $2.90 level.
- WTI oil pulled back below the $63.00 level as traders prepared for Trump-Putin talks.
- Brent oil declined below the $66.00 level amid broad pullback in the oil markets.
Natural Gas
Natural gas continues to rebound from multi-month lows and is trying to settle above the $3.90 level.
In case natural gas manages to settle above this level, it will get to the test of the nearest resistance, which is located in the $3.00 – $3.05 range.
WTI Oil
WTI oil pulls back ahead of Trump – Putin meeting. Traders bet that Russian oil exports will not be hurt by additional sanctions.
In case WTI oil stays below the $63.00 level, it will head towards the support at $60.00 – $60.50.
Brent Oil
Brent oil is losing ground amid lack of positive catalysts. Rising production from OPEC+ countries continues to put pressure on oil prices.
A move below the $65.00 level will open the way to the test of the support at $63.50 – $64.00.
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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