Natural Gas and Oil Forecast: OPEC+ Output Freeze and Rising Inventories Keep Traders on Edge

Market Overview

WTI crude futures slipped below $61 per barrel as traders balanced OPEC+’s decision to pause output hikes through Q1 2026 against growing signs of potential oversupply. The group’s modest December increase was tempered by plans to halt further production amid weaker seasonal demand.

Analysts warned that geopolitical tensions and infrastructure disruptions could tighten supply even as inventories build. Meanwhile, natural gas prices held above $4.20 MMBtu, supported by steady demand and expectations of cooler winter conditions.

The mixed signals leave energy markets caught between supply risks and demand uncertainty heading into the final months of the year.

Natural Gas Price Forecast

Natural gas futures are holding near $4.20 after rallying sharply from October lows. Price action remains supported by an ascending trendline from $3.58, while both the 50 EMA ($4.07) and 200 EMA ($3.90) are trending higher — confirming short-term bullish structure.

The RSI at 57 signals moderate momentum, though it’s flattening near overbought territory. Immediate resistance sits at $4.29, followed by $4.43 and $4.58 if bulls regain control. On the downside, a drop below $4.10 could invite profit-taking toward $3.92 or $3.75.

Overall, natural gas remains in an uptrend, but buyers may need fresh momentum to break above $4.30 and extend the current rally toward higher Fibonacci targets.

WTI Oil Price Forecast

WTI crude oil is consolidating near $60.80 as price action holds between the 50 EMA ($60.72) and 200 EMA ($60.39), forming a tight range. The market is respecting both ascending trendline support and descending resistance, shaping a symmetrical triangle pattern.

A breakout above $61.50 could confirm renewed buying momentum, while a drop below $60.00 may invite more selling toward $59.25 or $58.50. The RSI near 49 shows neutral momentum, with no clear divergence yet.

Brent Oil Price Forecast

Brent crude is consolidating around $64.60, with price action squeezed between the 50 EMA ($64.52) and 200 EMA ($64.26) — a sign of tightening momentum. The market remains supported by an ascending trendline near $64.10, while resistance aligns with the descending boundary from the $66.61 swing high, forming a symmetrical triangle.

The RSI near 50 signals neutrality, suggesting traders are waiting for a catalyst. A break above $65.00 could open the way toward $66.60–$67.90, while a close below $64.10 might expose downside targets at $62.57 and $61.37.