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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Is Losing Some Ground Ahead Of The Weekend
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Key Points:
- Natural gas pulled back as traders reacted to warmer weather forecasts.
- WTI oil is trying to settle below the $70.00 level.
- Brent oil is under pressure as traders focus on tariffs.
Natural Gas
Natural gas is losing ground as traders focus on warm weather forecasts, which indicate that demand will be weak.
If natural gas settles below the $3.80 level, it will move towards the next support, which is located in the $3.55 – $3.60 range.
WTI Oil
WTI oil is losing some ground as traders wait for additional catalysts. Concerns about the impact of tariffs will remain the key driver for oil markets in the near term.
If WTI oil pulls back below the $69.00 level, it will head towards the support at $67.00 – $67.50.
Brent Oil
Brent oil is moving lower amid tariff worries. At this point, Brent oil needs significant positive catalysts to break the current trend.
A move below the $72.00 level will push Brent oil towards the nearest support at $71.00 – $71.50.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
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