Natural Gas, WTI Oil, Brent Oil – Oil Markets Move Closer To Yearly Lows

Key Insights

• Natural gas failed to settle above the resistance at the 20 EMA. 
• WTI oil pulled back towards $73 as traders remained focused on the problems of U.S. regional banks. 
• Brent oil retreated towards the $79 level.

Natural Gas

Natural gas faced resistance near the 20 EMA and pulled back. The current demand for natural gas is high, but it looks that natural gas needs additional positive catalysts to get back to the recent highs near the $3.00 level.

WTI Oil

WTI oil declined towards the $73 level as traders remained focused on the problems in the U.S. regional banks sector. Oil markets will likely remain extremely volatile in the upcoming trading sessions as oil is trading near yearly lows.

Brent Oil

Brent oil  has also found itself under material pressure and moved below the $79 level. From a big picture point of view, Brent oil remains stuck in a wide $78 – $89 range. If Brent oil moves out of this range, it will likely gain strong momentum.

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