Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As Traders Focus On The EIA Report

Natural Gas

Natural gas pulled back as traders reacted to the EIA report, which indicated that working gas in storage increased by +101 Bcf from the previous week.

A move below the $3.50 level will push natural gas towards the support level at $3.35 – $3.40.

WTI Oil

WTI oil is losing ground as traders react to the EIA report, which showed that crude inventories decreased by -2.8 million barrels from the previous week.

If WTI oil settles below the $60.00 level, it will move towards the support level at $57.50 – $58.00.

Brent Oil

Brent oil lost momentum and pulled back towards the $64.00 level. From a big picture point of view, Brent oil stays range-bound.

In case Brent oil manages to settle below the $64.00 level, it will head towards the support level at $62.00 – $62.50.

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