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Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Retreats Ahead Of The Weekend

By: 
Vladimir Zernov
Natural Gas, WTI Oil, Brent Oil Forecasts

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.

Natural Gas

Natural Gas
Natural Gas 291124 Daily Chart

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
WTI Oil 291124 Daily Chart

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
Brent Oil 291124 Daily Chart

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.

Natural Gas Price Forecast

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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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