Natural Gas and Oil Forecast: Oil and Gas Prices Caught Between Fed Policy and Inventories

Market Overview

WTI crude oil held near $63.55 per barrel on Thursday, extending a three-day advance as geopolitical tensions raised concerns over potential supply disruptions.

Traders balanced this risk premium against U.S. data showing a 3.9 million barrel rise in crude inventories, a sharp increase above expectations that signaled weaker seasonal demand.

Market sentiment was also shaped by speculation of a more dovish Federal Reserve, with looser monetary policy expected to support growth and energy consumption. Overall, crude prices remain caught between rising geopolitical uncertainty boosting supply fears and inventory pressures tempering the outlook.

Natural Gas Price Forecast

Natural gas is trading near $3.03, showing signs of stabilizing after testing support at $3.00. On the 1-hour chart, the price has pulled back from the upper boundary of its rising channel and is now consolidating near the midpoint. The 50-EMA at $3.06 and the 200-EMA at $3.04 are acting as resistance, keeping upside momentum in check.

The RSI at 38 suggests bearish pressure but also hints that conditions are approaching oversold levels. If buyers defend the $3.00 support, price could rebound toward $3.11 and $3.16, with a breakout extending toward $3.22.

A clean break below $3.00, however, would weaken the channel structure and expose the next downside target at $2.87.

WTI Oil Price Forecast

WTI crude oil is trading near $63.55, holding steady after testing the rising channel support. On the 1-hour chart, price is sitting above both the 50-EMA at $63.30 and the 200-EMA at $63.40, showing short-term stability. The channel pattern highlights support around $62.94 and resistance near $64.07. If momentum continues, a push toward $64.52–$65.08 is possible.

The RSI at 53 signals neutral momentum, suggesting neither side is in control. Candles show smaller bodies after the recent rally, pointing to consolidation.

A break below $62.94 could trigger a move toward $62.45 and $61.94, while holding above current support keeps the bullish channel intact. For traders, this area is key for direction in the next session.

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Brent Oil Price Forecast

Brent crude is trading near $67.43, holding above its short-term channel support. On the 1-hour chart, price has broken out of a descending channel and is now following an ascending channel, suggesting improving momentum. The 50-EMA and 200-EMA, both at $67.05, are acting as a strong support base.

Immediate resistance is seen at $67.78 and then $68.43, with a successful breakout paving the way toward $69.12. On the downside, support rests at $66.36 and $65.86.

The RSI at 57 points to steady bullish pressure without being overbought. If buyers defend the $67.20–$67.00 zone, Brent could extend its climb toward the upper channel. A break below $66.36, however, risks weakening the setup.