Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Remain Under Pressure

Natural Gas

Natural gas is under strong pressure as traders focus on mild weather forecasts and bet on weaker demand.

The technical picture remains bearish as natural gas moved below the support at $2.40 – $2.45.

WTI Oil

WTI oil is losing ground as traders remain worried about the strength of demand in China and the economic weakness in Europe.

A move below the $70.00 level will push WTI oil towards the next support level, which is located in the $67.00 – $67.50 range.

Brent Oil

Brent oil pulled back amid lack of positive catalysts. Stronger dollar put additional pressure on the oil markets today.

RSI remains in the moderate territory, so there is plenty of room to gain additional downside momentum in case the right catalysts emerge.

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