Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs As Traders Bet On Rising Demand

Natural Gas

Natural gas is losing ground as traders remain bearish. Weather forecasts point to high demand in the upcoming days. However, these forecasts do not provide sufficient support to natural gas markets.

A successful test of the support at $3.35 – $3.40 will open the way to the test of the next support level at $3.05 – $3.10.

WTI Oil

WTI oil tested new highs as traders bet on rising demand despite a new wave of tariffs.

In case WTI oil stays above the $68.00 level, it will head towards the resistance at $71.50 – $72.00.

Brent Oil

Brent oil is trying to settle above the $70.00 level as the market continues to recover after the strong pullback in late June.

The nearest resistance level for Brent oil is located in the $71.00 – $71.50 range. A move above $71.50 will push Brent oil towards the resistance at $75.00 – $75.50.

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