Natural Gas
Natural gas settled above the $2.05 level as traders switched from September 2024 contract to October 2024 contract.
The fundamental situation remains challenging as traders are worried about oversupply in natural gas markets.
WTI Oil
WTI oil remains under pressure as traders react to the EIA report, which indicated that crude inventories decreased by 0.8 million barrels from the previous week.
In case WTI oil settles below the $74.00 level, it will head towards the next support, which is located in the $72.00 – $72.50 range.
Brent Oil
Brent oil retreats as traders focus on China’s economic problems and ignore the potential loss of Libya’s oil production.
RSI remains in the moderate territory, so Brent oil has a good chance to settle below the support at $77.00 – $77.50 in case the right catalysts emerge.
Natural Gas Price Forecast
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