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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Prices Dive 6% As Iran Is Ready To Negotiate A Deal
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Key Points:
- Natural gas suffered a major sell-off as traders reacted to warmer weather forecasts.
- WTI oil pulled back towards the $62.00 level as Iran was ready to negotiate with the U.S.
- Brent oil declined towards the $66.00 level.
Natural Gas
Natural gas prices collapsed as weather forecasts trended warmer over the weekend.
From the technical point of view, natural gas settled below the support at $3.50 – $3.55 and is moving towards the next support level at $3.00 – $3.05.
WTI Oil
WTI oil found itself under strong pressure as President Trump said that Iran was “seriously” negotiating with the U.S.
In case WTI oil settles below the $62.00 level, it will head towards the nearest support at $60.00 – $60.50.
Brent Oil
Brent oil suffered a sell-off as geopolitical premium declined amid signs of U.S. – Iran de-escalation.
A move below the support at $64.50 – $65.00 will push Brent oil towards the 50 MA at $63.17.
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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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