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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back As Angola Exits OPEC
Natural Gas: chart Natural gas rallied as traders reacted to the EIA report, which showed that working gas in storage declined by 87 Bcf from the previous week. Traders focused on the larger-than-expected inventory draw. A successful test of the resistance at $2.60 – $2.65 will open the way to the test of the next resistance level at $2.80 – $2.85. WTI Oil: chart WTI oil is losing some ground as traders continue to take profits after the recent rebound, which was driven by fears about the safety of supply routes in Red Sea. Angola decided to leave OPEC, which served as a negative catalyst for oil markets. In ... (full story)