Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Remains Under Pressure

Natural Gas

Natural gas remains under pressure as traders stay focused on disappointing weather forecasts.

In case natural gas settles below the support at $4.15 – $4.20, it will head towards the next support level, which is located in the $3.90 – $3.95 range.

WTI Oil

WTI oil is losing ground amid oversupply concerns. From a big picture point of view, the market lacks positive catalysts.

If WTI oil manages to settle below the $57.00 level, it will move towards the support at $55.50 – $56.00.

Brent Oil

Brent oil continues its attempts to settle below the support at $60.50 – $61.00. RSI remains in the moderate territory, so there is plenty of room to gain additional downside momentum in case the right catalysts emerge.

In case Brent oil pulls back below the $60.50 level, it will head towards the support level at $56.50 – $57.00.

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