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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains 1.7% As Rebound Continues
Natural gas gains some ground despite the bearish EIA report, which indicated that working gas in storage increased by 98 Bcf from the previous week. A successful test of the resistance at $2.80 – $2.85 will push natural gas towards the next resistance level at $3.02 – $3.09. chart WTI oil continues to rebound after the previous sell-off as traders react to the rate cut from the ECB. OPEC+ ministers noted that the production agreement could be tweaked if necessary, providing addiitonal support to oil markets. In case WTI oil climbs back above the $75.50 level, it will head towards the next resistance, which is ... (full story)