Natural Gas, WTI Oil, and Brent Oil Forecasts: A Deep Dive into Current Market Conditions
Natural Gas Performance
Natural gas is experiencing intense pressure as demand declines post-Hurricane Milton. Technically, it has settled below the $2.60 – $2.65 support, trending toward the upcoming support range of $2.40 – $2.45.
WTI Oil Analysis
WTI Oil's performance shows signs of weakening as traders react to OPEC's Monthly Report, revealing a cut in the demand growth forecast from 2 million bpd to 1.9 million bpd. Furthermore, the projection for 2025 fell from 1.7 million bpd to 1.6 million bpd. If it settles below $74.00, it may descend into the $72.00 – $72.50 support zone.
Brent Oil Update
Brent oil is testing significant support at $77.00 – $77.50 amid a general sell-off in the oil markets. A drop below $77.00 could revert Brent oil towards the $71.00 – $71.50 support range.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.