Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Dips On Demand Worries

Natural Gas

Natural gas is trying to find a bottom but weather forecasts point to low demand, which is bearish for natural gas markets.

In case natural gas manages to climb back above the $1.65 level, it will have a chance to gain sustainable upside momentum.

WTI Oil

WTI oil pulled back amid demand worries. China reduced its benchmark mortgage rate to boost the housing market, but traders are not sure whether stimulus measures would provide sufficient support to China’s economy.

From the technical point of view, WTI oil remains stuck below the key resistance at $79.00 – $80.00.

Brent Oil

Brent oil is moving lower amid a broad pullback in the oil markets. Houthis’ attacks on ships failed to push Brent oil above the resistance at $83.50 – $84.50.

If Brent oil settles above the important resistance at $83.50 – $84.50, it will gain strong upside momentum and move towards the next resistance level at $89.00 – $90.00.

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