Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As Geopolitical Risk Premium Declines

Natural Gas

Natural gas pulls back as traders react to the EIA report, which indicated that working gas in storage declined by -14 Bcf from the previous week.

In case natural gas pulls back below the $4.45 level, it will head towards the nearest support at $4.25 – $4.30.

WTI Oil

WTI oil remains under pressure as Ukraine agreed to work on a peace plan developed by the U.S.

If WTI oil declines below the $58.00 level, it will head towards the support at $55.50 – $56.00.

Brent Oil

Brent oil pulled back towards the $63.00 level as geopolitical risk premium declined.

If Brent oil moves below the $62.50 level, it will head towards the nearest support level, which is located in the $60.50 – $61.00 range.

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