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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Lows
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Key Points:
- Natural gas pulls back as traders focus on changes in weather forecasts.
- WTI oil declined as traders worried that U.S. oil production will increase in 2025.
- Brent oil made an attempt to settle below the $79.00 level.
Natural Gas
Natural gas tests new lows as traders focus on milder weather forecasts for the end of January.
If natural gas setles below the $3.75 level, it will move towards the nearest support at $3.55 – $3.60.
WTI Oil
WTI oil tested new lows as the strong pullback continued. Donald Trump plans to boost energy production in the U.S., which is bearish for oil markets.
In case WTI oil settles below the $75.00 level, it will move towards the support at $73.00 – $73.50.
Brent Oil
Brent oil remained under pressure as fears about tight supply eased. Declining geopolitical premium served as an additional bearish catalyst for Brent oil.
A move below the $78.50 level will push Brent oil towards the support level at $77.00 – $77.50.
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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