Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As Traders Wait For OPEC+ Production Decision

Natural Gas

Natural gas remained under pressure this week as traders focused on rising inventories and disappointing weather forecasts.

A move below the $3.35 level will push natural gas towards the support at $3.05 – $3.10.

WTI Oil

WTI oil is losing ground as traders prepare for OPEC+ production increase. The group is expected to raise production by 411,000 bpd.

In case WTI oil settles back below the $66.00 level, it will head towards the 50 MA at $64.16.

Brent Oil

Brent oil continued its attempts to settle back below the support level at $67.50 – $68.00.

In case Brent oil settles below $67.50, it will head towards the next support, which is located in the $63.50 – $64.00 range.

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