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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As Traders Focus On Rising Supply
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Key Points:
- Natural gas declined below the $2.90 level.
- WTI oil is under pressure ahead of the weekend.
- Brent oil pulled back below the $67.00 level.
Natural Gas
Natural gas remains under pressure as traders focus on bearish weather forecasts.
A move below $2.85 will push natural gas prices towards the support at $2.70 – $2.75.
WTI Oil
WTI oil pulls back as Russian oil exports stay mostly unchanged despite worries about recent drone attacks on Russian oil facilities.
In case WTI oil settles below the $62.00 level, it will move towards the support level at $60.00 – $60.50.
Brent Oil
Brent oil is losing ground amid broad pullback in the oil markets as traders focus on strong supply.
RSI is in the moderate territory, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.
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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