Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As U.S. and Iran Resume Nuclear Talks

Natural Gas

Natural gas rebounds as traders react to the EIA report, which indicated that working gas in storage increased by +53 Bcf from the previous week.

A move above the resistance at $3.35 – $3.40 will open the way to the test of the next resistance level at $3.60 – $3.65.

WTI Oil

WTI oil is losing ground as U.S. and Iran resume negotiations about Iran’s nuclear program.

In case WTI oil settles below the support at $66.00 – $66.50, it will head towards the next support level at $62.00 – $62.50.

Brent Oil

Brent oil pulled back as geopolitical risk premium declined. Currently, Brent oil is heading towards the support at $67.50 – $68.00.

A move below the $67.50 level will push Brent oil towards the next support at $63.50 – $64.00.

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