Natural Gas
Natural gas is mostly flat as traders wait for tomorrow’s EIA report, which is expected to show that working gas in storage increased by +112 Bcf.
If natural gas climbs above the $3.75 level, it will move towards the nearest resistance at $3.85 – $3.90.
WTI Oil
WTI oil pulled back as traders reacted to the EIA report, which indicated that crude inventories declined by -4.3 million barrels from the previous week. Gasoline inventories increased by +5.2 million barrels, exceeding analyst expectations.
In case WTI oil manages to settle above the $63.00 level, it will head towards the resistance level at $66.00 – $66.50.
Brent Oil
Brent oil has also moved lower as traders took profits off the table after the recent rebound.
A move below the $64.00 level will open the way to the test of the support at $62.00 – $62.50.
Natural Gas Price Forecast
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