Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounded From Session Lows Despite Trump’s Tariff Threat

Natural Gas

Natural gas tests support at $3.70 – $3.75 as traders stay bearish amid lack of positive catalysts.

In case this test is successful, natural gas will move towards the next support level at $3.35 – $3.40.

WTI Oil

WTI oil remains under strong pressure as traders focus on trade wars. Donald Trump threatened to impose an additional 50% tariff on China, and traders are worried that trade wars will hurt demand for oil.

It should be noted that RSI is in the oversold territory, so the risks of a rebound are increasing.

Brent Oil

Brent oil moved lower amid demand worries. Oil market dynamics will remain dependent on tariff news in the near term.

If Brent oil manages to settle back above the $65.00 level, it will head towards the nearest resistance level at $67.00 – $67.50.

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