Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As Trump Says U.S. Will Raise Tariffs On India’s Goods

Natural Gas

Natural gas tests new lows as current demand for natural gas remains moderate.

In case natural gas stays below the support at $3.00 – $3.05, it will move towards the next support level, which is located in the $2.70 – $2.75 range.

WTI Oil

WTI oil is losing ground as President Donald Trump said that he would raise tariffs on India’s goods due to purchases of Russian oil. Traders do not believe that India will stop buying Russian oil and focus on potential economic damage from new tariffs.

A successful test of the support at $66.00 – $66.50 will push WTI oil towards the next support level at $60.00 – $60.50.

Brent Oil

Brent oil is moving lower amid broad pullback in the oil markets. The geopolitical premium declined after a brief spike, which was bearish for Brent oil.

A move below the $67.50 level will open the way to the test of the support at $63.50 – $64.00.

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