Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back Amid Demand Concerns

Natural Gas

Natural gas continues its attempts to settle above the nearest resistance level, which is located in the $3.00 – $3.05 range.

A move above the $3.05 level will open the way to the test of the next resistance at $3.25 – $3.30.

WTI Oil

WTI oil is losing some ground as traders worry that the end of the summer driving season will hurt demand.

The technical picture remains unchanged as WTI oil needs to settle above the $64.00 level to gain additoinal upside momentum and move towards the resistance at $66.00 – $66.50.

Brent Oil

Brent oil pulled back amid demand worries. From a big picture point of view, Brent oil is moving lower in absence of positive catalysts.

In case Brent oil settles back below the $67.00 level, it will head towards August lows near the $65.00 level.

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