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WTI Crude Oil and Natural Gas Forecast June 8, 2017

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The WTI Crude Oil market fell apart during the session on Wednesday, slicing through the $47 level handily after the Crude Oil Inventories announcement, which was in addition of 3 million barrels as opposed to the anticipated decline of that same number, which worked against the idea that OPEC could control the market. After all, if there isn’t much in the way of demand, supply will continue to be a serious issue, and a glut of oil is now working against the value of the commodity. I think the $45 level underneath continues to be a target, and short-term rallies that show signs of exhaustion between here and the $47 level should be selling opportunities. Not only do I think we touch the $45 level, but I think it’s probably going to be a situation where we drop as low as $44 after that.for more analysis: http://www.dailyforex.com

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Oil Natural Gas Energy Futures Commodities
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