Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As OPEC+ May Delay Production Hike

Natural Gas

Natural gas is losing ground as traders react to the EIA report, which showed that working gas in storage increased by +78 Bcf from the previous week.

A move below the $2.75 level opens the way to the test of the $2.60 level. RSI is in the moderate territory, and there is enough room to gain momentum in the near term.

WTI Oil

WTI oil gains ground amid reports indicating that OPEC+ may delay its December oil production increase.

If WTI oil stays above the $70.00 level, it will head towards the resistance at $72.00 – $72.50.

Brent Oil

Brent oil  is moving higher as traders focus on the potential moves from OPEC+.

A move above the 50 MA at $74.93 will push Brent oil towards the resistance at $77.00 – $77.50.

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