OPEC+ Production Increase Impact: Can Natural Gas and Oil Prices Hold Above $65 Support Level?
Key Points:OPEC+ to raise oil output by 411,000 bpd in August, marking its fifth straight monthly production hike amid soft demand.Natural gas struggles below $3.758 as bearish technicals and weak fundamentals weigh on upside momentum.Brent retreats from $80 peak, stalls under $69.93 resistance, with sellers still controlling price action.Market OverviewOil and natural gas prices retreated following the de-escalation of recent geopolitical tensions in the Middle East, erasing much of the risk pr