I am downgrading my view for WTI to neutral to cautiously bearish but maintaining my view at neutral bias at cautiously bullish for Brent and the rest of the complex. That said I am continuing to fly the caution flag as any additional equity market corrections will impact oil prices in much the same way... round of profit taking selling (as we saw yesterday).
I am moving my Nat Gas view and bias to neutral as the weather forecasts and nearby temperatures remain somewhat supportive. As I have been discussing for weeks the direction of Nat Gas prices are primarily dependent on the actual and forecasted weather pattern now that we are still in the heart of the winter heating season and currently those forecasts have turned a tad more supportive at the moment.
Markets are mostly lower heading in the US trading session as shown in the following table.