Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back Amid Worries About U.S. – EU Trade Deal

Natural Gas

Natural gas markets stabilize after recent volatilty. Traders are not ready for big moves ahead of the weekend.

A successful test of the support level at $3.00 – $3.05 will push natural gas towards the next support at $2.70 – $2.75.

WTI Oil

WTI oil pulled back as traders focused on President Trump’s comments about the U.S. – EU trade deal. U.S. President said there was a 50% chance of striking a trade deal with Europe.

A move below the $65.00 level will open the way to the test of the support level at $62.00 – $62.50.

Brent Oil

Brent oil pulls back as traders worry that tariffs will hurt demand for oil. U.S. dollar’s rebound puts additional pressure on oil markets.

From the technical point of view, Brent oil needs to settle below the support level at $67.50 – $68.00 to gain additional downside momentum in the near term.

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