Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back As U.S. Dollar Rebounds

Natural Gas

Natural gas remains stuck above the key support at $1.60 – $1.65. Most likely, natural gas markets will need additional catalysts to gain momentum.

From the technical point of view, natural gas settled in the $1.65 – $1.77 range. This is a dangerous moment for natural gas bulls as a move below $1.65 may trigger a sell-off.

WTI Oil

WTI oil is moving lower as traders continue to take profits after the recent move. The Fed decision and the subsequent commentary did not provide support to WTI oil.

WTI oil needs to stay above the nearest support at $79.00 – $80.00 to have a chance to gain sustainable upside momentum in the near term.

Brent Oil

Brent oil declined amid a broad pullback in the oil markets. U.S. dollar’s rebound put additional pressure on Brent oil today.

The current pullback looks healthy as traders need to take profits after the strong rebound from February lows. However, Brent oil must stay above the $85.00 level to maintain the bullish trend.

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