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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats Amid Progress In U.S. – Iran Talks
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Key Points:
- Natural gas tests new lows as traders focus on bearish weather forecasts.
- WTI oil pulled back as U.S. and Iran achieved some progress in nuclear deal talks.
- Brent oil declined below the $66.50 level.
Natural Gas
Natural gas tests new lows as traders focus on mild weather forecasts, which indicate that demand will stay moderate.
In case natural gas settles below the support at $3.05 – $3.10, it will head towards the next support level at $2.70 – $2.75.
WTI Oil
WTI oil pulls back amid reports indicating that U.S. and Iran achieved some progress in nuclear deal talks.
If WTI oil pulls back below the $62.50 level, it will head towards the psychologically important $60.00 level.
Brent Oil
Brent oil is losing ground as traders worry that U.S. – China trade war will hurt demand for oil.
A move below the $65.00 level will open the way to the test of the support at $62.00 – $62.50.
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.
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