Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As Traders Focus On Middle East

Natural Gas

Natural gas settled near the $2.85 level as traders switched to December 2024 contract.

In case natural gas climbs above the $2.90 level, it will head towards the nearest resistance at $3.00 – $3.05.

WTI Oil

WTI oil pulls back amid reports indicating that Israel may seek a diplomatic solution to its current operation in Lebanon.

In case WTI oil manages to settle below the support at $67.00 – $67.50, it will move towards the next support level, which is located in the $63.50 – $64.00 range.

Brent Oil

Brent oil tests support at $71.00 – $71.50 as traders focus on the potential weakness of demand for oil.

A move below the $71.00 level will push Brent oil towards the support at $67.50 – $68.00.

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