Natural Gas
Natural Gas 081225 Daily ChartNatural gas is under strong pressure as traders react to warmer weather forecasts.
In case natural gas settles below the support at $5.00 – $5.05, it will head towards the next support level at $4.70 – $4.75.
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Natural gas retreats as traders focus on bearish changes in weather forecasts.
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WTI oil pulled back as traders reacted to developments in Iraq.
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Brent oil declined below the $62.50 level.
WTI Oil
WTI Oil 081225 Daily ChartWTI oil is losing ground as Iran restored production at the West Qurna 2 project, which suffered from a leak on an export pipeline.
From the technical point of view, WTI oil failed to settle above the resistance level at $60.00 – $60.50.
Brent Oil
Brent Oil 081225 Daily ChartBrent oil is losing ground as traders focus on rising supply. Currently, Brent oil is trying to settle below the $62.50 level.
In case this attempt is successful, Brent oil will head towards the support level at $60.50 – $61.00.
