Natural Gas and Oil Forecast: Market Eyes OPEC+ Decisions Amid Volatile Prices

Market Overview

Oil prices edged higher on Monday as geopolitical tensions in the Middle East fueled supply concerns, while robust Chinese factory activity provided optimism for demand. A private-sector survey revealed China’s manufacturing expanded at its fastest pace in five months, bolstering energy markets.

Meanwhile, traders remain focused on OPEC+ policy decisions this week, with expectations of output cuts likely influencing market dynamics. Despite recent gains, Brent crude is projected to average $74.53 per barrel in 2025, reflecting surplus supply concerns and weaker Chinese economic growth.

Geopolitical instability and shifting production strategies continue to shape energy markets, emphasizing a volatile yet pivotal period ahead.

Natural Gas Price Forecast

Natural Gas (NG) is under notable pressure, trading at $3.12 after a sharp 6.26% drop, reflecting bearish momentum on the 4-hour chart. The pivot point at $3.22 serves as a critical threshold, with immediate resistance at $3.29, followed by $3.36 and $3.46. On the downside, support sits at $3.14, with additional levels at $3.07 and $2.99.

The 50-day EMA at $3.27 reinforces resistance, while the 200-day EMA at $3.23 highlights a potential bearish shift. A sustained move below $3.22 suggests further downside, potentially targeting $3.07. Conversely, a recovery above $3.22 could reignite bullish momentum.

WTI Oil Price Forecast

U.S. crude oil (USOIL) is trading at $68.33, up 0.33%, as it holds just above the pivot point at $68.27. This level remains critical, acting as a divider between bullish and bearish sentiment.

Immediate resistance stands at $68.53, followed by $68.95 and $69.34, with the 50-day EMA at $68.71 adding overhead pressure. On the downside, support is seen at $67.86, with further levels at $67.49 and $67.19.

The 200-day EMA at $69.08 underscores a broader bearish trend, while the price’s struggle to hold above $68.27 suggests a cautious outlook. A break above $68.27 could encourage bulls to target $68.95, but failure to sustain gains may lead to further declines toward $67.49.

Brent Oil Price Forecast

Brent crude (UKOIL) is trading at $72.20, up 0.24%, but remains below its pivot point at $72.34, signaling cautious sentiment. Immediate resistance lies at $72.53, followed by $72.91 and $73.31. The 50-day EMA at $72.43 and the 200-day EMA at $72.84 reinforce overhead resistance, highlighting a challenge for bullish momentum.

On the downside, support is seen at $71.75, with further levels at $71.45 and $71.16. A sustained break below $72.34 could prompt further declines toward these support zones, while a move above the pivot point might drive the price toward $72.91 or higher.