Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Lows Amid Recession Worries

Natural Gas

Natural gas tested new lows as traders remained bearish amid global market sell-off.

However, it looks that natural gas needs additional negative catalysts to get to the test of the nearest support level at $1.80 – $1.85.

WTI Oil

WTI oil retreats amid recession worries that rocked global markets today. Middle East tensions do not provide any support to oil markets as traders are focused on potential demand weakness.

It should be noted that WTI oil received strong support in the $71.50 – $72.50 range and may try to rebound from multi-week lows.

Brent Oil

Brent oil tested new lows as traders focused on global market sell-off.

From the technical point of view, Brent oil is trying to settle below the support at $77.00 – $78.00. In case this attempt is successful, Brent oil may gain additional downside momentum.

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