Natural Gas and Oil Forecast: Price Compression in Brent Points to $68.37 or $65.55 Move

Market Overview

WTI crude slipped to $63.55 per barrel, trimming earlier gains as traders weighed weaker U.S. fuel demand at the close of the summer driving season. U.S. crude stockpiles fell by 2.39 million barrels to 418.3 million, while Cushing inventories declined 838,000 barrels, signaling firm pre-holiday demand.

However, seasonal slowdowns and uncertainty around global trade flows tempered momentum. Losses were cushioned by heightened geopolitical tensions disrupting energy infrastructure and optimism over potential U.S. rate cuts supporting consumption.

Natural gas prices also tracked cautiously, reflecting markets bracing for supply risks and shifting demand patterns in an increasingly fragile energy landscape.

Natural Gas Price Forecast

Natural gas is trading near $2.89, pressing against the 100-EMA at $2.93 after reclaiming the 50-EMA at $2.85. Price action shows a breakout attempt from a descending trendline, signaling that sellers may be losing control.

The RSI at 60 points to improving momentum, while the MACD is turning positive, suggesting fresh bullish pressure. Key resistance sits at $3.04, and a close above it could open the way toward $3.14–$3.20.

On the downside, immediate support lies at $2.84, followed by $2.70. Holding above these levels keeps the recovery bias intact.

WTI Oil Price Forecast

WTI crude oil is trading around $63.55, struggling to gain momentum after slipping from the recent high of $65.12. On the 4-hour chart, prices are testing the 50-EMA at $63.55, with the 100-EMA at $63.94 acting as overhead resistance. The rejection near $64.20 shows sellers are active at higher levels, while support holds near $62.55 and $61.54.

The RSI sits around 49, signaling neutral momentum, while the MACD histogram is fading below zero, pointing to weak buying pressure.

For now, oil is consolidating between $62.55 and $65.12, with a breakout on either side likely setting the next move. A close above $65.12 could extend gains toward $66.46, while a drop below $62.55 risks $61.54.

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Brent Oil Price Forecast

Brent crude oil is trading around $66.87, showing hesitation near the 50-EMA ($67.08) and 100-EMA ($67.27). Price action is compressing inside a symmetrical triangle, with support holding at $66.35 and resistance overhead at $68.37. The RSI at 44 reflects weak momentum, while the MACD is slipping below zero, signaling fading buying strength.

Recent candles show rejection near $67.50, suggesting sellers are active around that zone. If Brent holds above $66.35, it may attempt another move toward $68.37. A clean breakout above this level could open the path to $69.14, while a drop under $66.35 risks deeper losses toward $65.55.

For now, Brent remains range-bound, awaiting a decisive move from its tightening structure.