Natural Gas and Oil Forecast: Sellers Pressure Crude While Natural Gas Signals Strength

Market Overview

WTI crude futures extended their decline on Monday, sliding to a one-month low near $57–$58 per barrel and marking a fourth straight session of losses. The downturn comes as geopolitical negotiations show signs of progress, raising the possibility of eased restrictions on oil flows from key producers. Any relaxation of sanctions could return additional barrels to a market already anticipating a notable supply surplus in 2025.

WTI is now down more than 5% for the month and is on track for its fourth consecutive monthly drop, the longest losing streak since 2023, underscoring how shifting geopolitical dynamics are reshaping energy market sentiment.

Natural Gas Price Forecast

Natural gas is trading around $4.55, holding within a steady rising channel that has guided price action for most of November. The lower boundary near $4.40 continues to act as firm support, with buyers stepping in each time price dips toward the trendline. The market remains above both the 20-EMA and 200-EMA, keeping the broader structure constructive despite short-term swings.

The RSI sits near mid-range, showing neutral momentum, though higher lows on the indicator hint at underlying strength. If price stays above $4.46, a move toward $4.67 and $4.81 is possible. A break below $4.40 would weaken the channel and open the door toward $4.24.

WTI Oil Price Forecast

WTI crude is holding near $58.20 after a sharp drop that pushed price into the lower end of a broad contracting structure. On the 4-hour chart, oil continues to trade inside a large descending wedge, with lower highs from $60.83 and higher lows from $55.96, showing a slow squeeze in volatility.

The rebound from $57.41 came with several long wicks, showing buyers reacting at support, though price remains below both the 20-EMA and 200-EMA, which keeps short-term momentum soft. The RSI has lifted from oversold levels but still sits below 45, indicating recovery without strength.

If price holds above $57.41, a move toward $58.65 is possible. A break below $57.41 exposes $56.66.

Brent Oil Price Forecast

Brent crude is trading near $62.10, holding just above the recent low at $61.59 after slipping out of a broad contracting structure. On the 4-hour chart, price remains under both the 20-EMA and 200-EMA, keeping momentum tilted to the downside.

The break below the rising trendline confirms weakening demand, while repeated lower highs from $65.03 show sellers staying in control.

The RSI sits below 40, pointing to soft momentum without signs of reversal. If price holds above $61.59, a short bounce toward $63.00 is possible. Failure to reclaim that level exposes the next supports at $60.75 and $60.06.