Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Retreat On Profit-Taking

Natural Gas

Natural gas  gained ground as traders focused on forecasts, which indicate that demand would be strong in the upcoming days due to cold weather.

If natural gas manages to settle above the support at $3.55 – $3.60, it will move towards the nearest resistance level at $3.95 – $4.00.

WTI Oil

WTI oil pulls back as traders take profits after the strong rally. Sudan has recently lifted force majeure on the transport of crude oil, putting additional pressure on oil markets.

In case WTI oil declines below the $73.00 level, it will get to the test of the nearest support level at $72.00 – $72.50.

Brent Oil

Brent oil is losing ground amid broad pullback in the oil markets, which is driven by profit-taking.

If Brent oil settles below the $76.00 level, it will move towards the psychologically important $75.00 level.

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