Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Pulled Back Below $70.00

Natural Gas

Natural gas is losing ground as traders focus on warm weather forecasts. The current demand for natural gas is low, which is bearish for natural gas markets.

If natural gas settles below the 50 MA at $3.12, it will head towards the next support level at $2.95 – $3.00.

WTI Oil

WTI oil pulls back as traders focus on the weaker-than-expected Ifo Business Climate report from Germany, which showed that business morale in Europe’s leading economy remained under pressure.

If WTI oil settles below the 50 MA at $69.97, it will move towards the strong support level at $67.00 – $67.50.

Brent Oil

Brent oil  is losing ground as traders switch their attention from geopolitical tensions to weak demand.

A move below the $73.00 level will open the way to the test of the support at $71.00 – $71.50.

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