Market Overview
Crude prices tumbled to four-year lows this week as rising geopolitical tensions and tariff-driven demand fears overshadowed supply fundamentals. Brent’s six-month spread collapsed 86% from January highs to just $0.79, signaling a looming surplus.
Brent and WTI have each fallen for five straight sessions, pressured by concerns that global trade disruptions could slow economic activity and energy consumption. OPEC+’s decision to boost May output by 411,000 bpd has added to the bearish tone.
Goldman Sachs now sees Brent and WTI falling to $62 and $58 by year-end. Meanwhile, U.S. crude stockpiles unexpectedly dropped 1.1 million barrels last week, offering modest support.
Natural Gas Price Forecast
Natural gas is trading at $3.497 after briefly dipping to test the ascending trendline support near $3.40. Price action shows a sharp bounce off that level, with bulls now eyeing a retest of the $3.595 pivot point.
Immediate resistance stands at $3.796, followed by the downtrend line near $3.951. On the downside, $3.40 remains a critical support zone, with the next major floor sitting at $3.328.
The 50 EMA at $3.852 and 200 EMA at $3.924 hover well above the current price, reinforcing the bearish medium-term structure.
RSI is recovering from oversold levels, hinting at possible short-term relief. A close above $3.595 could shift momentum upward, but the broader downtrend is still intact.
Natural Gas Price Forecast
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See all Natural Gas forecastsWTI Oil Price Forecast
WTI crude is hanging around $57.11, deep in correction mode after breaking through major support levels. The pivot point sits at $58.45 (green line), which now acts as immediate resistance.
If buyers manage to reclaim that, the next upside levels to watch are $61.12 and $63.34. On the downside, immediate support rests at $56.57, with a potential slide toward $54.18 if pressure persists.
The 50 EMA is at $64.69, and the 200 EMA is up at $67.86—both well above current price, signaling that sellers still dominate the trend. With no clear reversal signal and the RSI hovering near oversold at 21, the market may be due a technical bounce, but downside risks remain firmly in play.
Brent Oil Price Forecast
Brent crude is trading at $60.54 after slipping below its key pivot point at $61.42. The selloff intensified after failing to hold support at $64.12, exposing the next downside levels at $59.51 and potentially $57.09. Immediate resistance is now seen at $61.42, with stronger resistance at $64.12 and $65.59 above that.
Technically, the 50 EMA at $67.95 and the 200 EMA at $71.28 continue to loom overhead, reinforcing the broader bearish structure. Despite a small intraday bounce, momentum remains pressured as long as Brent stays beneath $61.42.
The RSI is deeply in bearish territory, indicating potential exhaustion, but there’s no confirmation of a reversal just yet. Expect volatility if prices test $59.50 again.
