Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Gains Ground As Gasoline Inventories Drop By 1.6 Million Barrels

Natural Gas

Natural gas suffered a sell-off after an unsuccessful attempt to settle above the resistance level at $3.55 – $3.60.

In case natural gas manages to settle below the support at $3.25 – $3.30, it will move towards the next support level at $3.00 – $3.05.

WTI Oil

WTI oil gains ground as traders react to the EIA report, which indicated that gasoline inventories declined by -1.6 million barrels from the previous week.

If WTI oil climbs above the 50 MA at $63.58, it will head towards the resistance level at $66.00 – $66.50.

Brent Oil

Brent oil moved higher as traders reacted to the EIA report. The recent OPEC+ decision continued to provide support to oil markets today.

In case Brent oil stays above the $66.00 level, it will move towards the resistance level at $67.50 – $68.00.

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