Natural gas gains ground as traders react to the EIA report.
WTI oil pulled back as Saudi Arabia cut prices for Asian buyers.
Brent oil declined towards the $63.00 level.
Natural Gas
Natural Gas 061125 Daily Chart
Natural gas gains ground as traders focus on the EIA report, which indicated that working gas in storage increased by +33 Bcf from the previous week.
In case natural gas settles above the resistance at $4.25 – $4.30, it will head towards the next resistance level, which is located in the $4.60 – $4.65 range.
WTI Oil
WTI Oil 061125 Daily Chart
WTI oil is losing ground amid reports indicating that Saudi Arabia cut prices for Asian buyers in December.
A move below the $59.00 level will push WTI oil towards the support level at $55.50 – $56.00.
Brent Oil
Brent Oil 061125 Daily Chart
Brent oil pulls back as traders worry that rising OPEC+ production will put material pressure on prices.
In case Brent oil manages to settle below the $63.00 level, it will head towards the support at $60.50 – $61.00.
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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.