Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Dive 2.5% Ahead Of The Weekend

Natural Gas

Natural gas rebounds after yesterday’s sell-off as traders stay focused on fluctuations of weather forecasts. The current demand for natural gas is high, which is bullish for natural gas markets.

If natural gas manages to settle above the resistance at $4.25 – $4.30, it will head towards the next resistance level at $4.55 – $4.60.

WTI Oil

WTI oil pulled back as traders focused on the weaker-than-expected U.S. Services PMI report and worried about a potential slowdown of the U.S. economy.

In case WTI oil settles below the $70.00 level, it will head towards the next support level, which is located in the $67.00 – $67.50 range.

Brent Oil

Brent oil is under strong pressure amid broad sell-off in the oil markets. Currently, Brent oil is trying to settle below the $74.50 level.

If this attempt is successful, Brent oil will move towards the support level at $71.00 – $71.50.

For a look at all of today’s economic events, check out our economic calendar.