Natural Gas and Oil Forecast: Volatile Moves Ahead as OPEC+ Output and Stocks Rise

Market Overview

Oil prices stabilized after three days of declines, supported by renewed geopolitical tensions and speculation over tighter sanctions on Russian crude. Brent and WTI had slipped about 1% in the prior session, with Brent hitting its lowest since June and WTI since May, before buyers re-emerged near WTI’s $60 support.

Analysts point to Chinese stockpiling demand and supply risks as key stabilizers, even as rising OPEC+ output and a 1.8 million-barrel build in U.S. crude inventories weigh on sentiment.

The energy market remains volatile, with natural gas and oil forecasts closely tied to global uncertainty and shifting supply dynamics.

Natural Gas Price Forecast

Natural gas is trading near $3.42 after stalling below key resistance at $3.49, a level that has capped rallies several times in recent weeks. The RSI at 62 shows momentum cooling after nearing overbought, suggesting buyers may be losing steam. The 50-EMA at $3.32 and 200-EMA at $3.26 remain supportive, keeping the broader uptrend intact.

If price fails to break $3.49, a pullback toward $3.39 or $3.29 is likely, with $3.21 as deeper trendline support. A breakout above $3.49, however, would confirm fresh bullish momentum and open the path toward $3.60 and $3.70.

For now, traders should watch closely for rejection signals near $3.49 before committing to new positions.

WTI Oil Price Forecast

WTI crude oil is hovering near $62 after defending key support at $61.55, a level tested multiple times in recent sessions. The repeated long wicks near this zone show buyers stepping in to protect the floor. On the upside, the 50-EMA at $62.91 and resistance at $62.88 remain immediate hurdles. A clean close above this range could shift momentum toward $63.80 and $64.60.

The RSI at 41 signals mild recovery from oversold conditions but remains below neutral, suggesting buyers aren’t fully in control yet. If price slips under $61.55, deeper support sits at $61.07 and $60.57.

For now, the market looks balanced, waiting for either a breakout above $63 or a breakdown under $61.50.

Brent Oil Price Forecast

Brent crude oil is trading around $65.58, holding just below key resistance at $65.75 after breaking a rising trendline last week. Price action shows sellers keeping control, with repeated rejections near the 50-EMA at $66.62. The 200-EMA, higher up at $67.20, adds another ceiling, reinforcing the bearish outlook.

The RSI sits near 39, pointing to weak momentum and keeping Brent close to oversold conditions. If the price fails to clear $65.75 convincingly, the bearish setup suggests further downside. Key support rests at $65.08 and $64.56, with a stronger floor at $64.11. A decisive break below these levels could open the way toward $63.80.

For traders, the cleaner opportunity lies in short positions on failed retests of $65.75–$66.20, targeting $65.08 and $64.50. A stop-loss just above $66.80 helps balance risk against potential reward. If buyers unexpectedly reclaim $67.50, the bearish case would weaken, but for now, momentum favors the downside.