Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As Traders Ignore New Sanctions On Russia

Natural Gas

Natural gas made another attempt to settle above the nearest resistance level at $3.60 – $3.65 but lost momentum and pulled back.

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

WTI Oil

WTI oil pulled back despite new sanctions on Russia from the EU. Traders believe that new measures would not hurt supply.

If WTI oil settles below the $67.00 level, it will get to the test of the nearest support at $66.00 – $66.50.

Brent Oil

Brent oil made an attempt to settle above the psychologically important $70.00 level but lost momentum and declined towards $69.00.

A move below $69.00 will open the way to the test of the support level at $67.50 – $68.00.

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