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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Remains Under Pressure As Traders Prepare For China Tariffs
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Key Points:
- Natural gas pulled back below the $3.50 level.
- WTI oil declined below $60.00 as the U.S. planned to impose 104% tariffs on China.
- Brent oil moved towards the $63.00 level.
Natural Gas
Natural gas remains under strong pressure as traders focus on tariff news and weather forecasts.
If natural gas stays below the $3.50 level, it will get to the test of the nearest support at $3.35 – $3.40.
WTI Oil
WTI oil pulls back as traders worry that 104% tariffs on China will put significant pressure on oil demand.
A move below the $60.00 level opens the way to the test of the support at $57.50 – $58.00.
Brent Oil
Brent oil is losing ground as traders focus on U.S. – China trade war. The market sentiment remains extremely bearish.
A move below the support at $62.00 – $62.50 will push Brent oil towards the $60.00 level.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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