Natural Gas and Oil Forecast: Oil Buyers Return Above $60 While Gas Remains Range-Bound

Market Overview

WTI crude has finally made it back to around $59.7 a barrel, its highest point in over a month. That’s due to renewed tensions heating up in the world of geopolitics. People are getting anxious that this could disrupt global oil supply lines, which is making traders think oil prices will keep going up.

Its not just one region that’s causing the worry – bad weather and maintenance outages in key oil producing areas are also adding to the problem. All these factors put together have got traders thinking that there’ll be a lot less oil coming onto the market in the short term. And thats why oil and natural gas prices are getting a boost.

What we’re seeing here is that even without any actual production loss, geopolitical stress can really start to rattle energy markets. It can make prices all over the shop and make people start to worry about getting the oil they need.

Natural Gas Price Forecast

Natural gas futures are trading near $3.35 on the 4-hour chart after rebounding from the $3.13–$3.20 demand zone. Price remains capped below a descending trendline drawn from the December high, keeping the broader structure corrective. Recent candles show smaller bodies with long wicks, highlighting indecision rather than strong follow-through buying.

Technically, gas is still below both the 50-EMA and 200-EMA, which continue to slope lower and act as dynamic resistance near $3.60–$3.85. Horizontal resistance sits at $3.63, followed by $3.86. On the downside, $3.13 is key support, with a deeper floor near $2.92. The RSI around 45 signals weak momentum, consistent with a range-to-bearish bias. The trade idea is to sell rallies near $3.60, targeting $3.00, with a stop above $3.85.

WTI Oil Price Forecast

WTI crude oil is trading near $60.00 on the 4-hour chart after a sharp rebound from the $55.70–$56.00 support zone. Price has broken above a descending trendline that capped rallies since November, signaling a shift in short-term structure. Recent bullish candles show strong bodies with limited upper wicks, suggesting follow-through buying rather than a false breakout.

Structurally, price is moving within a rising channel from the December lows. The recovery has cleared the 50-EMA, while the 200-EMA near $58.70 now acts as dynamic support. Resistance is seen at $60.50, followed by $61.50, while support sits at $58.70 and $57.50. The RSI near 60 reflects improving momentum without overextension. The trade idea is to buy pullbacks near $58.80, targeting $61.50, with a stop below $57.40.

Brent Oil Price Forecast

Brent crude oil is trading near $64.30 on the 4-hour chart after breaking above a long-term descending trendline that had capped price action since October. The latest bullish candles show strong real bodies and closes near session highs, signaling improving buyer control rather than a short-covering spike.

Structurally, Brent has rebounded from the $59.70–$60.00 base and is now pushing higher within a developing ascending channel. Price has reclaimed the 50-EMA and is testing the 200-EMA near $64.00, a key inflection zone. A sustained hold above this level opens the door toward $65.30, followed by $66.70.

On the downside, support sits at $62.75 and $61.20. The RSI near 62 reflects strengthening momentum without overbought conditions. The trade idea is to buy pullbacks near $63.00, targeting $66.70, with a stop below $61.80.