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Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Retreats Ahead Of The Weekend
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Key Points:
- Natural gas gains ground as rebound continues.
- WTI oil pulls back amid demand worries.
- Brent oil is heading towards the $72.00 level.
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Natural Gas
Natural gas is moving higher as traders bet on a rebound in post-holiday trading. The changes in weather forecasts may have a material impact on natural gas dynamics in the near term.
A move above the $3.40 level will push natural gas towards the next resistance level at $3.55 – $3.60.
WTI Oil
WTI oil is losing ground ahead of the weekend. OPEC+ is expected to extend production cuts, but traders are worried that demand could be weaker than previously expected.
If WTI oil declines below the $68.00 level, it will get to the test of the support at $67.00 – $67.50.
Brent Oil
Brent oil is moving lower amid lack of positive catalysts. Brent oil was range-bound in recent trading sessions, and it looks that it is ready to make a move next week.
A move below the nearest support level at $71.00 – $71.50 will provide Brent oil with a chance to gain downside momentum.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir ZernovFutures Trading Expert
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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