Natural Gas and Oil Forecast: Rising Supplies Cloud 2025 Outlook, Eyes on $3.14 Pivot
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The 2025 outlook for natural gas and oil is clouded by oversupply risks, with critical pivot levels identified at $3.14 for natural gas and $73.64 for Brent crude. This could impact related ETFs and companies.
December 17, 2024 | 7:00 am
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The United States Brent Oil Fund (BNO) may be impacted by the oversupply risks in the oil market, with a critical pivot level at $73.64 for Brent crude.
BNO is directly linked to Brent crude oil prices. The identified pivot level of $73.64 suggests potential price pressure due to oversupply risks, which could negatively impact BNO's performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80