Advertisement
Advertisement
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats Amid Demand Worries
By:
Key Points:
- Natural gas pulled back as traders reacted to the changes in weather forecasts.
- WTI oil is trying to settle below the $68.00 level.
- Brent oil pulled back below $72.00 as traders remained focused on demand weakness.
Natural Gas
Natural gas is losing ground as traders focus on warmer trends in weather forecasts.
If natural gas manages to settle below the support at $3.20 – $3.25, it will move towards the next support level at $3.00 – $3.05.
WTI Oil
WTI oil pulls back as traders start to prepare for the upcoming OPEC+ meeting, which is scheduled to take place on December 5.
A successful test of the support at $67.00 – $67.50 will push WTI oil towards the next support level, which is located in the $63.50 – $64.00 range.
Brent Oil
Brent oil is moving lower as traders focus on weak Manufacturing PMI data from Europe.
A move below the support at $71.00 – $71.50 will open the way to the test of the next support level at $67.50 – $68.00.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
Advertisement