Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Tests $72.00 As Traders React To EIA Data

Natural Gas

Natural gas pulls back as traders prepare for the EIA report, which will be released tomorrow.

From the technical point of view, natural gas remains stuck between the support at $2.00 – $2.05 and the resistance at $2.25 – $2.30.

WTI Oil

WTI oil tests new lows as traders react to the EIA report, which indicated that crude inventories declined by 4.6 million barrels from the previous week.

If WTI oil settles below the $72.00 level, it will head towards the next support, which is located in the $68.00 – $69.00 range.

Brent Oil

Brent oil  is losing ground as traders stay focused on Gaza ceasefire negotiations, which have served as the key bearish catalyst for oil markets in recent trading sessions.

A move below the $75.00 level will open the way to the test of the support at $72.50 – $73.50.

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