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WTI Crude Oil and Natural Gas Forecast August 25, 2017

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The WTI Crude Oil market fell during the session on Thursday, reaching down towards the $47 level. However, there is a tropical storm that is changing over into a hurricane heading towards the Gulf Coast refineries, so will be interesting to see what happens next. If we get some type of massive storm on Friday and the weekend, it’s likely that we will see the market rally towards the $50 level, and perhaps even break above there. Otherwise, I think that rallies are to be sold. I also think that eventually when things calm down, the sellers will return as well. I am bearish of oil, because quite frankly we just don’t have the demand yet. Having said all that, there is a possibility of a short-term pop in price, and that of course could be a nice smash and grab trade.for more analysis: http://www.dailyforex.com

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oil natural gas energy energies futures commodities
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