Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Lows As Crude Inventories Rise By 3.5 Million Barrels

Natural Gas

Natural gas tests new lows as traders react to the EIA report, which indicated that working gas in storage increased by +80 Bcf from the previous week.

In case natural gas stays below the $3.00 level, it will head towards the support at $2.75 – $2.80.

WTI Oil

WTI oil is moving lower as traders focus on the EIA report, which showed that crude inventories increased by +3.5 million barrels from the previous week.

A move below the $57.00 level will push WTI oil towards the support at $55.50 – $56.00.

Brent Oil

Brent oil is under pressure amid broad pullback in the oil markets. Traders focus on strong supply.

A successful test of the support at $60.50 – $61.00 will open the way to the test of the next support level at $57.00 – $57.50.

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