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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs As Gasoline Inventories Decline
Natural Gas: chart Natural gas pulls back as traders take some profits off the table after the recent rebound. The weather is expected to get warmer soon, which is bearish for natural gas markets. From a big picture point of view, natural gas needs significant positive catalysts to settle above the nearest resistance at $1.95 – $2.00. WTI Oil: chart WTI oil tested new highs as traders reacted to the EIA Weekly Petroleum Status report. The report indicated that crude inventories increased by 3.2 million barrels from the previous week, while gasoline inventories declined by 4.3 million barrels. Strategic ... (full story)
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- Posted: Apr 3, 2024 2:20pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 286
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