Natural Gas, WTI Oil, and Brent Oil Forecasts: Analyzing Recent Market Movements

Tuesday, 3 September 2024, 11:28

Natural gas forecasts show resilience; however, WTI and Brent oil prices dive due to demand worries. With an eye on economic indicators, traders remain alert.
FX Empire
Natural Gas, WTI Oil, and Brent Oil Forecasts: Analyzing Recent Market Movements

Natural Gas Progressions

Natural gas gains ground as the recovery continues. Technically, it is moving towards resistance at $2.25 – $2.30. If it climbs above $2.30, the next resistance level is set at $2.55 – $2.60.

WTI Oil Decline

WTI oil tests new lows, with traders concerned about the potential return of Libyan oil exports and waning demand from China. A move below $70.00 will pave the way for testing support at $68.00 – $68.50.

Brent Oil Concerns

Brent oil settles below $75.00, with traders anxious about OPEC+ potentially increasing production despite weak demand. The RSI remains moderate, indicating room for additional downside momentum.

Key Economic Events

For comprehensive updates on economic events, refer to our economic calendar.


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.


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