Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Pulls Back As Crude Inventories Rise By 5.2 Million Barrels

Natural Gas

Natural gas pulled back as traders took some profits off the table after the recent rally.

The technical picture remains unchanged as natural gas needs to settle above the resistance at $4.25 – $4.30 to gain additional upside momentum in the near term.

WTI Oil

WTI oil is losing ground as traders focus on the EIA report, which indicated that crude inventories increased by +5.2 million barrels from the previous week.

In case WTI oil stays below the $60.00 level, it will head towards the support level at $55.50 – $56.00.

Brent Oil

Brent oil pulled back below the $64.00 level and is trying to settle below the $63.50 level.

In case this attempt is successful, Brent oil will move towards the next support at $60.50 – $61.00.

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