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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats After Bearish EIA Report
Natural Gas: chart Natural gas pulled back as traders took some profits off the table after the strong rally. Profit-taking was triggered by bearish updates in weather forecasts. RSI moved back into the moderate territory, so natural gas may gain additional upside momentum in case positive catalysts emerge. WTI Oil: chart WTI oil pulled back as traders reacted to the bearish EIA report, which showed a significant increase in gasoline inventories. From the technical point of view, WTI oil failed to settle above the resistance at $73.00 – $74.00, which was a disappointing development for the bulls. Brent Oil: ... (full story)