Natural Gas, WTI Oil, and Brent Oil Forecasts Following EIA Data
Natural Gas Trends Amid EIA Data
Natural gas is pulling back as traders await the upcoming EIA report. The current technical position shows support at $2.00 - $2.05 and resistance at $2.25 - $2.30.
WTI Oil Analysis
WTI oil is testing new lows in response to EIA data revealing a decline in crude inventories by 4.6 million barrels. A drop below $72.00 indicates further weakness, with the next stronghold at $68.00 - $69.00.
Brent Oil Market Performance
Brent oil faces downward pressure as Gaza ceasefire discussions emerge as a bearish catalyst. A breach of $75.00 could trigger a test of support levels between $72.50 and $73.50.
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.