Oil Prices Plummet Amid Trump's Possible Iran Talks

Natural gas prices are under pressure as traders expect demand to decline due to milder weather. The commodity is currently moving towards the support level at $2.75, $2.80, with a potential drop to $2.60, $2.65 if it settles below this level.

WTI oil, on the other hand, is losing ground amid signs that President Trump may be willing to talk to Iranian President Peseshkian. This news has led traders to bet on an increasing number of vessels passing through the Strait of Hormuz, which could boost oil demand. However, WTI oil has already pulled back below the support level at $97.50, $98.00 and is attempting to settle below $95.00.

Brent oil is also testing new lows, with traders selling despite falling global oil reserves. Brent oil is currently trying to settle below the support level at $101.50, $102.00, which could lead to a drop to the 50 MA at $92.44 if successful.