Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds From Yearly Lows
Natural Gas
Natural gas tests resistance at $2.25 – $2.30 as traders bet that Hurricane Francine may disrupt supply.
In case natural gas climbs above the $2.30 level, it will move towards the next resistance at $2.55 – $2.60.
WTI Oil
WTI oil rebounds from yearly lows as traders react to the EIA report, which indicated that crude inventories increased by 0.8 million barrels from the previous week.
A move above the resistance at $68.00 – $68.50 will open the way to the test of the next resistance level at $72.00 – $72.50.
Brent Oil
Brent oil gained ground as traders focused on Hurricane Francine. According to recent reports, about 24% of oil production in the Gulf of Mexico was shut.
If Brent oil settles back above the $71.00 level, it will head towards the resistance at $72.50 – $73.00.
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