Natural Gas
Natural gas tests new lows as traders focus on the situation in global markets. Prices are moving lower due to ceasefire in the Middle East, which means that demand for U.S. LNG may fall.
In case natural gas stays below the support at $3.60 – $3.65, it will head towards the next support level at $3.35 – $3.40.
WTI Oil
WTI oil tests new lows as traders react to surprising developments in the Middle East. Geopolitical premium declined as Israel and Iran agreed to cease fire after 12 days of fighting.
A move below the 50 MA at $63.69 will open the way to the test of the support level at $62.00 – $62.50.
Brent Oil
Brent oil tests support at $67.50 – $68.00 amid strong pullback in the oil markets.
In case this test is successful, Brent oil will head towards the next support level at $63.50 – $64.00.
Natural Gas Price Forecast
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