Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats Ahead Of OPEC+ Meeting

Natural Gas

Natural gas gains ground as traders focus on the recent EIA report. Current demand for natural gas remains low, but traders stay bullish.

If natural gas settles above the resistance at $3.60 – $3.65, it will move towards the next resistance level at $3.95 – $4.00.

WTI Oil

WTI oil is losing ground as traders prepare for OPEC+ meeting, which will be held on May 3. OPEC+ countries will discuss their June output plan.

A successful test of the support level at $57.50 – $58.00 will open the way to the test of the next support at $53.50 – $54.00.

Brent Oil

Brent oil is losing ground as traders worry that OPEC+ will boost production despite trade wars.

If Brent oil settles below the $60.00 level, it will move towards the support at $58.00 – $58.50.

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