Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats On Tariff Worries

Natural Gas

Natural gas tests new lows as traders stay focused on bearish weather forecasts, which indicate that demand would be lower than previously expected.

A move below the $3.20 level will push natural gas towards the support level at $3.00 – $3.05.

WTI Oil

WTI oil is losing ground as traders focus on the tariff deadline. Traders are nervous ahead of the August 1 deadline, which could lead to higher tariffs and hurt global economic growth.

If WTI oil stays 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 is under pressure amid broad pullback in the oil markets, which was triggered by tariff worries.

A successful test of the support at $67.50 – $68.00 will push Brent oil towards the next support at $63.50 – $64.00.

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