Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Moves Lower As Trump Says U.S. Officials Met With Iranians

Brent oil tested new lows as traders reacted to Trump’s comments on Iran and bet that U.S. and Iran would continue negotiations. Saudi Arabia’s plans to restart the key pipeline put additional pressure on Brent oil.

Brent oil moved below the psychologically important $100.00 level and made an attempt to settle below the support at $97.00 – $97.50. In case Brent oil manages to settle below the $97.00 level, it will head towards the support level, which is located in the $93.00 – $93.50 range. RSI is in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge.