Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tested Yearly Lows

Natural Gas

Natural gas continues to move higher as Canada reduced exports to the U.S. due to tariffs.

It should be noted that RSI remains in the moderate territory, so there is plenty of room to gain momentum in the near term.

WTI Oil

WTI oil tested yearly lows as traders reacted to the EIA report, which showed that crude inventories increased by 3.6 million barrels from the previous week.

In case WTI oil stays below the $67.00 level, it will head towards the next support at $62.50 – $63.00.

Brent Oil

Brent oil has also tested new lows as traders remained worried that trade wars would hurt demand for oil.

A move below the $69.00 level will push Brent oil towards the support at $67.00 – $67.50.

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