Natural Gas and Oil Forecast: Are $7 Gas and $65 Brent Back in Play?

Market Overview

WTI crude oil futures traded near $61.2 per barrel, extending gains of more than 2% as geopolitical tensions injected fresh risk premium into energy markets. Heightened military activity and unresolved diplomatic negotiations have raised concerns over potential disruptions to global supply routes, supporting prices despite mixed fundamentals.

Trade uncertainty has added another layer of volatility, complicating the outlook for global demand. At the same time, some supply-side relief is emerging, with Kazakhstan’s exports expected to normalize following infrastructure repairs.

For now, oil and natural gas prices remain sensitive to headlines, with traders balancing geopolitical risk against signs of easing supply constraints and uneven demand momentum.

Natural Gas Price Forecast: $6.25 Breakout Puts $7.20 Back in Play

Natural gas futures are trading near $6.25/MMBtu, extending a sharp upside move after clearing multiple resistance levels on the 2-hour chart. Price has decisively broken above the $5.65–$5.90 congestion zone and is now holding above the 2.618 Fibonacci extension near $6.06, signaling trend acceleration rather than a false breakout.

Recent candles show strong bullish bodies with limited upper wicks, reflecting sustained buying pressure. The rally follows a long basing phase above $4.48, where price respected both horizontal support and a descending trendline break. The 50-EMA has crossed above the 200-EMA, confirming a bullish shift in structure.

RSI is hovering near 70, indicating strong momentum but also increasing the risk of short-term pauses. Immediate resistance sits near $6.50, followed by $7.23 at the 3.618 Fibonacci level.

Trade idea: Buy pullbacks toward $6.05, target $7.20, stop below $5.65.

WTI Oil Price Forecast: $61 Holds as Trend and Fib Support Align

WTI crude oil is trading near $61.10, consolidating after a steady recovery from the $59.00–$59.40 demand zone. On the 2-hour chart, price remains above a rising trendline drawn from early-January lows, keeping the short-term structure constructive. Recent candles near $61 show small bodies with balanced wicks, pointing to digestion rather than rejection at current levels.

The Fibonacci retracement from the $55.75 low to the $62.35 high shows price holding above the 0.382 level at $59.83 and the 0.5 level near $59.05, reinforcing the bullish bias. The 50-EMA has crossed above the 200-EMA, while RSI is holding near 60, suggesting improving momentum without overheating. Resistance is capped at $62.35, with support firm at $60.00.

Trade idea: Buy dips near $60.00, target $62.30, stop below $59.00.

Brent Oil Price Forecast: $65 Holds as Fib Support Keeps Bulls in Control

Brent crude oil is trading near $65.10, easing slightly after a sharp pullback from the $66.80 swing high. On the 2-hour chart, price remains above a rising trendline drawn from the early-January lows, keeping the short-term structure constructive despite the recent dip. The latest candles show long lower wicks around $65, suggesting buyers are stepping in rather than exiting.

Fibonacci retracement from the $59.82 low to $66.80 high highlights key support holding at the 0.382 level near $64.13, with deeper support aligned at the 0.5 level around $63.30. Price is also holding above the 50-EMA, while the 200-EMA near $62.50 continues to slope higher, reinforcing the broader uptrend. RSI is hovering near 55, pointing to neutral-to-bullish momentum without overbought pressure. Resistance remains capped at $65.80–$66.80.

Trade idea: Buy pullbacks near $64.20, target $66.80, stop below $63.30.