Natural Gas and Oil Forecast: Brent Stabilizes, WTI Recovers, NatGas Builds Uptrend Base

Market Overview

WTI crude rose over 2% toward $60 per barrel, reversing a two-week slide as traders priced in tighter supply linked to new sanctions and broader geopolitical tensions.

Early disruptions are already visible, with major producers scaling back trading operations and nearly one-third of certain seaborne exports facing delays from rerouting and slower offloading.

Yet the upside remains capped. The IEA expects a growing oil surplus, projecting supply to exceed demand by 2.4 million barrels per day this year and 4 million next year. Additional pressure comes from OPEC’s reported Q3 surplus and rising US output, reinforcing a cautious outlook for both oil and natural gas markets.

Natural Gas Price Forecast

Natural gas is consolidating inside a rising wedge, with price holding above the $4.45–$4.46 support band after rejecting the upper boundary near $4.69. The recent pullback formed a long upper wick, showing sellers reacted at resistance, but buyers have kept price above the wedge’s midline and the 20-EMA, a sign that short-term momentum remains intact.

The 200-EMA sits well below at $4.11, reinforcing the broader uptrend. If price holds the $4.45 area, it may attempt another move toward $4.69 and then $4.86.

A breakdown below the wedge floor, however, could open a deeper retracement toward $4.28. RSI hovering near mid-range signals a neutral but steady market.

WTI Oil Price Forecast

WTI crude is stabilizing after Monday’s sell-off, with price recovering from the $58.10–$58.40 support band and moving back toward the center of its multi-week symmetrical triangle.

The rebound formed a clear rejection wick at trendline support, showing buyers are still active around higher-low structure. On the 2-hour chart, WTI is testing the $59.80–$60.20 zone, where both the 20-EMA and 200-EMA are clustering, creating a short-term decision point.

Momentum has improved, with the RSI pushing above 50 after a small bullish divergence against the recent low. A close above $60.19 would expose $61.26, while a failure here may send price back toward $58.40. For now, WTI remains in consolidation but is showing early signs of strength.

Brent Oil Price Forecast

Brent crude is holding steady after rebounding from the $63.00–$63.30 support zone, a level aligned with the lower boundary of its multi-week symmetrical triangle. The recovery produced a clear rejection wick at trendline support, showing buyers are still defending the broader structure. Price is now pressing into the $64.20–$64.30 region, where both the 20-EMA and 200-EMA sit overhead, creating a short-term resistance cluster.

The triangle’s descending upper trendline remains the main barrier, keeping Brent in consolidation despite the recent bounce.

The RSI has moved back above 50 after a sharp rebound from oversold territory, signaling improving momentum. A close above $64.26 could open the way toward $65.33, while failure here risks another dip toward $63.30.