Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As U.S. Production Resumes After Hurricane Francine

Natural Gas

Natural gas pulls back from multi-week highs as traders take some profits off the table ahead of the weekend.

Natural gas needs to stay above the $2.30 level to have a chance to gain additional upside momentum in the near term.

WTI Oil

WTI oil pulls back as U.S. oil production resumes after Hurricane Francine, which was the key driver for the recent rebound.

A move below the $68.00 level will push WTI oil towards the recent lows near the $65.25 level.

Brent Oil

Brent oil is also under pressure as traders focus on oil demand outlook. From a big picture point of view, traders remain worried about demand in China.

Brent oil faced resistance in the $72.50 – $73.00 range and is moving towards the nearest support at $69.50 – $70.00.

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