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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As OPEC Cuts Demand Forecast
Natural Gas: chart Natural gas remains under strong pressure as demand for natural gas declined after Hurricane Milton. From the technical point of view, natural gas settled below the support at $2.60 – $2.65 and is moving towards the next support level at $2.40 – $2.45. WTI Oil: chart WTI oil is losing ground as traders react to OPEC Monthly Report, which indicated that the organization cut its demand growth forecast from 2 million bpd to 1.9 million bpd. The forecast for 2025 was reduced from 1.7 million bpd to 1.6 million bpd. If WTI oil settles below the $74.00 level, it will move towards the nearest ... (full story)
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- Posted: Oct 14, 2024 2:55pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 83
