Natural Gas, WTI Oil, Brent Oil Forecasts – China Clouds Oil’s Horizon - FX Empire
Natural Gas, WTI Oil, Brent Oil Forecasts - China Clouds Oil's Horizon
Natural Gas, WTI Oil, Brent Oil Forecasts – China Clouds Oil’s Horizon
Published: Aug 14, 2023, 18:50 UTC•1min read
Oil markets are moving lower as traders worry about weakening demand in China.
Mentioned in Article
Natural Gas
$2.7835
-0.05%
WTI Oil
$82.452
-0.49%
Brent Oil
$86.265
-0.34%
Key Insights
- Natural gas edges closer to a key resistance range of $2.80 – $2.85, as traders bet on a potential demand surge.
- WTI oil pulls back as traders wait for fresh catalysts.
- Brent oil declines amid signs of reduced demand in China.
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Natural Gas
Natural gas continues its attempts to settle back above the resistance at $2.80 – $2.85 as traders bet on the potential demand surge.
If natural gas settles above the $2.85 level, it will head towards the next resistance in the $3.05 – $3.10 range.
WTI Oil
Brent oil tested support at $85.10 – $86.00 as traders focused on the signs of weakening demand in China.
At this point, the pullback looks healthy as traders want to take some profits off the table near multi-month highs.
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