Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Dives 3% As Iran Tensions Ease

Natural Gas

Natural gas attempts to rebound as traders react to the EIA Weekly Natural Gas Storage Report, which indicated that working gas in storage decreased by -71 Bcf from the previous week.

In case natural gas settles above the $3.10 level, it will move towards the nearest resistance, which is located in the $3.25 – $3.30 range.

WTI Oil

WTI oil pulled back as Trump’s comments indicated that U.S. will not attack Iran in the near term.

If WTI oil pulls back below the 50 MA at $58.58, it will move towards the support level at $55.50 – $56.00.

Brent Oil

Brent oil moved lower as traders reduced bets on the potential U.S. action against Iran.

If Brent oil settles below the $64.00 level, it will move towards the 50 MA at $62.54.

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