Natural Gas, WTI Oil, Brent Oil – Natural Gas Markets Test New Lows

Key Insights

• Natural gas prices continue to move lower as weather forecasts imply moderate natural gas demand in the next two weeks.
• WTI oil is under pressure as traders focus on rising Treasury yields.
• Brent oil settled below the $83 level. 

Natural Gas

Natural gas tested new lows amid a complete lack of upside catalysts. According to weather forecasts, demand for natural gas should be moderate in the next two weeks.

WTI Oil

WTI oil pulled back towards the $76.50 level as traders focused on rising Treasury yields. Traders worry that additional rate hikes from the Fed will put too much pressure on the economy and hurt demand for oil.

Brent Oil

Brent oil declined below the $83 level. From a big picture point of view, Brent oil settled in a wide $75 – $90 range. Oil markets will need significant catalysts to move out of this trading range.

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