Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Moves Away From Session Highs On Profit-Taking - FX Empire

Natural Gas, WTI Oil, Brent Oil Forecasts - Oil Moves Away From Session Highs On Profit-Taking

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Moves Away From Session Highs On Profit-Taking

Published: Dec 20, 2023, 18:47 UTC•1min read

Oil traders take some profits off the table after the strong rebound from December lows.

Mentioned in Article
Natural Gas

$2.325
-2.39%

WTI Oil

$73.568

-0.55%

Brent Oil

$79.003

-0.28%

Key Insights

- Natural gas is losing ground as weather forecasts point to mild weather until the end of the year.
- WTI oil moved below $74.00 as traders took some profits off the table.
- Brent oil pulled back despite tensions in Red Sea.

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Natural Gas

Natural gas pulled back as forecasts point to light demand until the end of the year.

From the technical point of view, natural gas settled in a range between the support at $2.40 and the resistance at $2.45.

WTI Oil

Brent oil has also moved away from session highs despite tensions in Red Sea.

At this point, the near-term trend stays bullish. RSI is in the moderate territory, and there is plenty of room to gain additional momentum.

For a look at all of today’s economic events, check out our economic calendar.

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