Natural Gas and Oil Forecasts: Analyzing Demand Pressures
Natural Gas Forecast
Natural gas prices are currently losing ground as traders take profits off the recent rebound. If natural gas settles back below the $2.15 level, it will head towards the support at $2.00 - $2.05.
WTI Oil Outlook
WTI oil is testing new lows due to a weaker-than-expected JOLTs Job Openings report, highlighting a slowdown in the U.S. economy. A move below $69.00 will likely push WTI oil towards the nearby support at $68.00 - $68.50.
Brent Oil Analysis
Brent oil remains under pressure amid demand worries. Reports suggest OPEC+ might delay a planned production increase, but this has not provided lasting support as traders focus on key economic data. Currently, Brent oil is attempting to settle below the support at $72.50 - $73.00. A decline below $72.50 will set the stage for a test of the $70.00 level.
Economic Events Overview
To stay updated on today's economic events, please 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.