Natural Gas, WTI OIl, Brent Oil Forecasts – Oil Tests Key Support Amid Demand Worries

Natural Gas

Natural gas is mostly flat as traders wait for additional catalysts after yesterday’s EIA report.

If natural gas settles back above the $3.05 level, it will head towards the next resistance level at $3.20 – $3.25.

WTI Oil

WTI oil remains under pressure as traders worry that OPEC+ production cuts would not provide sufficient support to the market.

A move below the $67.00 level will push WTI oil towards the next support level at $63.50 – $64.00.

Brent Oil

Brent oil tests support at $71.00 – $71.50 amid broad pullback in the oil markets.

In case this test is successful, Brent oil will gain additional downside momentum and move towards the next support at $67.50 – $68.00.

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