Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats Amid Demand Concerns

Natural Gas

Natural gas is mostly flat as traders wait for additional catalysts after yesterday’s bearish EIA report.

A move below the $2.00 level will push natural gas towards the next support at $1.80 – $1.85.

WTI Oil

WTI oil retreats as traders remain concerned about China’s economy. Falling Treasury yields did not provide support to oil markets in today’s trading session.

If WTI oil settles below the support at $75.50 – $76.50, it will move towards the next support level at $71.50 – $72.50.

Brent Oil

Brent oil tests new lows amid demand concerns. It should be noted that geopolitical premium has declined in recent weeks, which was bearish for Brent oil.

In case Brent oil settles below the $80.00 level, it will head towards the nearest support at $77.00 – $78.00.

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