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

Natural Gas

Natural gas gains ground as traders react to the EIA report, which showed that working gas in storage increased by +48 Bcf from the previous week.

In case natural gas settles above the $3.20 level, it will move towards the resistance at $3.35 – $3.40.

WTI Oil

WTI oil pulls back as traders focus on Trump’s tariff policy. Traders also try to evaluate whether potential sanctions on Russia will put significant pressure on the country’s exports.

In case WTI oil settles back below the $69.00 level, it will head towards the support level at $66.00 – $66.50.

Brent Oil

Brent oil attempts to settle below the support level at $71.00 – $71.50 amid broad pullback in the oil markets.

In case this attempt is successful, Brent oil will head towards the next support at $67.50 – $68.00.

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