Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Remains Under Pressure As Traders Focus On U.S. – Russia Talks

Natural Gas

Natural gas is mostly flat as traders react to the EIA report, which indicated that working gas in storage increased by +7 Bcf from the previous week.

If natural gas manages to settle above $3.20, it will head towards the resistance at $3.35 – $3.40.

WTI Oil

WTI oil tests new lows as traders focus on the potential meeting between Donald Trump and Vladimir Putin. Traders believe that Russian oil supply will not be hurt and focus on rising supply from OPEC+.

If WTI oil settles below the $64.00 level, it will move towards the support at $60.00 – $60.50.

Brent Oil

Brent oil remains under pressure as traders bet that supply from OPEC+ will continue to increase in the upcoming months.

RSI remains in the moderate territory, and there is plenty of room to gain additional downside momentum in the near term.

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