Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As Traders Focus On Weak Chinese Demand

Natural Gas

Natural gas made an attempt to settle below the support at $2.75 – $2.80 but lost momentum and moved back towards the $2.80 level.

If natural gas settles above $2.80, it will head towards the nearest resistance level, which is located in the $3.00 – $3.05 range.

WTI Oil

WTI oil pulls back as traders worry about weak demand in China and focus on the recent changes in Fed policy outlook. The Fed may be less dovish than previously expected, which is bearish for oil markets.

In case natural gas declines below the $67.00 level, it will head towards the next support level at $63.50 – $64.00.

Brent Oil

Brent oil is moving lower amid broad pullback in the oil markets. Currently, Brent oil is trying to settle below the support at $71.00 – $71.50.

In case this attempt is successful, Brent oil will move towards the next support level, which is located in the $67.50 – $68.00 range.

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