Natural Gas and Oil Forecast: OPEC+ Discipline and Supply Risks Drive Renewed Bullish Sentiment

Market Overview

Oil and natural gas prices edged higher midweek, with WTI crude rising above $62.28 per barrel amid renewed geopolitical tensions that fueled risk premiums across energy markets.

Traders reacted to OPEC+’s restrained output increase, the smallest among proposed options, which underscored the group’s caution in a volatile environment. Russian exports, holding near a 16-month high, face logistical disruptions as refinery operations adjust to security risks.

Meanwhile, the EIA projects U.S. oil production to hit a record this year, and inventories grew by 2.78 million barrels, exceeding forecasts — highlighting a fragile balance between global supply optimism and persistent geopolitical uncertainty.

Natural Gas Price Forecast

Natural Gas Futures (NGX2025) are trading near $3.49, maintaining a steady uptrend supported by a rising trendline that has been in place since late September. Price action consistently shows higher highs and higher lows, confirming a bullish trend. The market recently rebounded from the $3.45 support zone and is holding above both the 50-day EMA ($3.37) and 200-day EMA ($3.33), signaling ongoing buyer strength.

The RSI at 61 suggests moderate bullish momentum without overbought conditions, leaving room for another push higher. Immediate resistance sits at $3.58, followed by $3.68 and $3.77.

If bulls fail to break above $3.58, a short-term correction toward $3.45 or $3.35 could unfold before resuming the uptrend. Sustained closes above $3.58 would confirm continuation toward $3.68–$3.77, keeping the bullish bias intact.

WTI Oil Price Forecast

WTI Crude Oil (USOIL) is trading around $62.28, showing early signs of recovery after breaking out of a downward channel. The price has reclaimed support at $61.55 and is now testing the 50-EMA ($62.22), a level that could determine short-term direction.

The RSI near 56 indicates moderate bullish momentum, suggesting room for further upside before overbought conditions. If buyers maintain control above $62.20, the next resistance sits near $62.70–$63.00, where the 200-EMA ($63.24) caps gains.

A rejection here could bring a pullback toward $61.50–$61.00. Sustained strength above $63.20 would confirm a short-term trend reversal, while failure to hold current levels may see crude retesting its recent lows near $60.40.

Brent Oil Price Forecast

Brent Crude Oil (UKOIL) is trading around $65.98, hovering near the 50-EMA ($65.94) after rebounding from the recent low of $64.03. The recovery appears corrective, with prices struggling to break above the 38.2% Fibonacci retracement at $66.26, which aligns with the descending trendline and the 200-EMA ($66.90) — forming a strong resistance cluster.

The RSI near 57 signals mild bullish momentum, but the broader trend remains bearish until a clean breakout above $66.50–$67.00 occurs. Candlestick behavior near current levels shows indecision, hinting at potential exhaustion among buyers.

If Brent fails to hold above $66.20, it could trigger renewed selling toward $64.77 and $64.00. A sustained move below $64.00 would confirm continuation of the downtrend, while a close above $67.00 could invalidate the bearish setup and shift focus toward $68.30–$69.80.