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Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Tests New Lows As Pullback Continues
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Key Points:
- Natural gas gains ground after the release of the EIA report.
- WTI oil is heading towards the $70.00 level amid demand concerns.
- Brent oil pulled back towards the $74.00 level.
Natural Gas
Natural gas gains ground as traders react to EIA Weekly Natural Gas Storage Report, which indicated that working gas in storage decreased by -174 Bcf from the previous week.
A move above the $3.40 level will push natural gas towards the resistance level at $3.55 – $3.60.
WTI Oil
WTI oil tests new lows despite new sanctions on Iranian oil as traders focus on the potential impact of U.S. – China trade war.
In case WTI oil declines below the $70.00 level, it will head towards the support level at $67.00 – $67.55.
Brent Oil
Brent oil remains under pressure amid broad pullback in the oil markets. From a big picture point of view, Brent oil has lost all gains that were made in 2025.
A move below the $74.00 level will open the way to the test of the support level 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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