Natural gas prices have retreated as traders await the EIA report, scheduled for release tomorrow. Technically, natural gas remains confined within a range, with support between $2.00 and $2.05 and resistance between $2.25 and $2.30.
Meanwhile, WTI oil has hit new lows following the EIA report, which showed a decline in crude inventories by 4.6 million barrels from the previous week. Should WTI oil close below the $72.00 mark, it is expected to move towards the next support level between $68.00 and $69.00.
Brent oil is also facing declines as traders focus on the Gaza ceasefire negotiations, which have been a significant bearish factor in recent trading sessions. A drop below $75.00 could lead Brent oil to test support between $72.50 and $73.50.