Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Are Moving Lower Ahead Of OPEC+ Meeting

Natural Gas

Natural gas is losing ground as traders focus on cooler weather forecasts, which indicate that demand will stay low.

If natural gas settles below the support at $3.35 – $3.40, it will head towards the next support level, which is located in the $3.05 – $3.10 range.

WTI Oil

WTI oil is swinging between gains and losses as traders prepare for OPEC+ decision on the group’s production plans, which will be made on Saturday.

The technical picture remains unchanged as WTI oil did not manage to settle below the $60.00 level.

Brent Oil

Brent oil tests support at $62.00 – $62.50 as traders worry that OPEC+ may raise production in July by more than 411,000 bpd.

A move below the support at $62.00 will push Brent oil towards the next support level at $58.50 – $59.00.

For a look at all of today’s economic events, check out our economic calendar.