Natural Gas and Oil Forecast: OPEC+ Pause Ignites Rebound as Traders Brace for Volatile Week

Market Overview

WTI crude climbed over 1% to $59.20 per barrel after OPEC+ reaffirmed a three-month pause on production increases through the first quarter of next year, tightening near-term supply expectations. The move offers temporary support to energy markets that have suffered four straight monthly declines amid forecasts of a sizable global surplus.

However, gains remain capped as markets weigh the possibility of easing sanctions tied to broader geopolitical negotiations, which could release additional barrels into circulation.

Natural gas and oil traders are increasingly sensitive to these shifting geopolitical signals, with price volatility reflecting the delicate balance between constrained output and potential supply relief.

Natural Gas Price Forecast

Natural gas is trading steadily above $4.79 after breaking through a multi-week consolidation ceiling. The move extends a broader series of higher lows visible since mid-November, supported by a rising trendline that continues to guide the upside. Price is holding above both the 50-EMA and 200-EMA on the 2-hour chart, signaling improving bullish control.

The latest push stalled at $4.95, where candles printed small upper wicks, showing early hesitation as the market tests a key resistance band. RSI near 70 signals strong momentum but also hints at mild overextension.

If natural gas pulls back, support sits first at $4.79 and then at $4.65. Holding these levels keeps the path open for another attempt at $5.09.

WTI Oil Price Forecast

WTI crude is attempting a short-term recovery after breaking out of the descending channel that guided price since mid-November. The move above both the 50-EMA and 200-EMA on the 2-hour chart shows improving momentum, with buyers reclaiming the $59.07 support level that previously acted as resistance.

Price is now pressing toward $60.46, and the candles show steady follow-through rather than hesitation. RSI has climbed above 60 without flashing divergence, suggesting the rebound still has room.

If WTI retests $59.00 and holds, it would confirm the breakout and set the stage for a push toward $61.17. Failure to stay above $59.00 reopens the path back to $58.26, where the prior range floor sits.

Brent Oil Price Forecast

Brent crude is edging higher after breaking out of the descending channel that guided prices for most of November. The move above the 50-EMA and 200-EMA on the 2-hour chart marks a meaningful shift in momentum, with price now holding above the $62.90 support level.

Candles show steady higher highs, and RSI climbing toward 60 signals improving strength without flashing any bearish divergence.

The next resistance sits near $64.42, where Brent stalled multiple times in mid-November. A retest of $62.90 would be healthy and may offer buyers a chance to re-enter if the level holds. Losing that support exposes $62.10, while holding above it keeps the short-term bias tilted toward $65.26.