Natural Gas and Oil Forecast: Bearish Momentum Targets $60 in WTI and $64 in Brent

Market Overview

WTI crude futures hovered near $63 per barrel after a sharp 2% slide, as geopolitical tensions and tariff disputes weighed on sentiment. Concerns over disrupted energy infrastructure and trade frictions have heightened uncertainty, though analysts noted limited supply risk with key refiners maintaining purchases.

In the U.S., crude inventories fell by 1 million barrels last week, undershooting expectations of a 1.7 million draw, tempering support for prices. Investors also remain cautious amid broader market jitters tied to central bank policy signals. Together, these crosscurrents underscore how fragile energy markets remain in the face of geopolitical and economic risks.

Natural Gas Price Forecast

Natural gas is trading near $2.81, struggling to break a descending trendline that has capped prices throughout August. The market remains under pressure, with the 50-EMA at $2.84 and 100-EMA at $2.93 acting as overhead resistance.

Momentum is mixed— the RSI at 51 has climbed from oversold levels but remains neutral, showing no clear directional strength. Meanwhile, the MACD is flat near the zero line, hinting at limited momentum after a failed recovery attempt.

If prices hold below $2.84, the risk leans bearish, with downside targets at $2.70 and $2.63. A decisive close above $2.84, however, could open the path to $2.92–$3.04, where stronger resistance sits. For now, natural gas is coiling under pressure, with traders awaiting a clear breakout.

WTI Oil Price Forecast

WTI crude oil is trading near $63.19, slipping below the short-term rising channel after failing to sustain momentum above $64.02. Price is testing support at $62.55, with the 50-EMA at $63.51 and 100-EMA at $63.97 now acting as resistance.

The RSI at 44 shows weakening momentum after a recent pullback from over 60, suggesting sellers are gaining ground. Meanwhile, the MACD histogram has turned negative, with lines crossing lower, signaling a bearish shift. If crude holds below $63, the next downside levels sit at $61.54 and $60.72.

A recovery above $64.02, however, would ease pressure and open the path back toward $65.12. For now, oil is leaning bearish, with support levels key to watch.

Brent Oil Price Forecast

Brent crude oil is trading near $66.60, slipping out of a short-term ascending channel after failing to hold above $68.37 resistance. Price is now testing support around $66.17, with the 50-EMA at $67.09 and 100-EMA at $67.30 acting as overhead barriers.

The RSI at 39 shows bearish momentum building as it drops below neutral, while the MACD histogram has turned deeper negative, confirming selling pressure. If Brent holds below $66.17, the next downside targets stand at $65.30 and $64.61.

On the upside, a rebound above $67.30 would ease pressure and could reopen the path toward $68.37. For now, the technical setup favors a cautious bearish bias unless bulls reclaim control above the EMAs.