Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As China Fails To Provide Additional Stimulus To Boost Demand

Natural Gas

Natural gas is losing ground as traders focus on warm weather. The current demand for natural gas is low, which is bearish for natural gas prices.

If natural gas settles below the $2.65 level, it will move towards the support level at $2.50 – $2.55.

WTI Oil

WTI oil pulls back as traders evaluate the impact of Hurricane Rafael, which is expected to weaken and move away from oilfields in the near term.

A move below the $70.00 level will open the way to the test of the support level at $67.00 – $67.50.

Brent Oil

Brent oil is losing ground as traders are disappointed that China did not provide additional stimulus to boost demand. Instead, China focused its new support package on debt problems of local governments.

If Brent oil settles back below the $73.00 level, it will move towards the support level at $71.00 – $71.50.

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