Natural Gas and Oil Forecast: What’s Driving Oil Toward $65 and Gas Back to $4?

Market Overview

WTI crude futures rose toward $64 per barrel, marking a third straight gain and their highest level since late September. Geopolitical tensions have added a new risk premium to energy markets. Uncertainty about possible military escalation has increased worries about supply disruptions, especially in the Middle East, which produces almost a third of the world’s oil.

Traders are also watching key shipping routes like the Strait of Hormuz, an important path for oil and LNG shipments. The US dollar’s drop to a near four-year low has made dollar-priced commodities more attractive. These factors are boosting the short-term outlook for crude oil and natural gas, but volatility remains high.

Natural Gas Price Forecast: NG Holds $3.85: Rising Trendline Caps Pullbacks for Now

Natural Gas futures are steady around $3.80 to $3.85 on the 2-hour chart after a strong rally from below $2.00. The price is still above a rising trendline from mid-January, which keeps the overall outlook positive. Recent candles have small bodies and mixed wicks, showing the market is pausing after the big move up.

Resistance is close to $4.00 to $4.10, matching earlier highs and a Fibonacci extension area. Support is grouped at $3.55 to $3.60, where the trendline meets the short-term moving average. The RSI is around 55 to 60, pointing to steady or slightly positive momentum without signs of being overbought.

Trade idea: Consider buying near $3.60 support, aiming for a target of $4.10, with a stop below $3.40.

WTI Oil Price Forecast: USOIL Near $64.50: Rising Channel Keeps Short-Term Bias Constructive

WTI crude oil is trading between $64.10 and $64.50, staying within a clear upward channel on the 2-hour chart. The price keeps making higher highs and higher lows, following the trendline that began near $60.70. Recent candles have smaller bodies near the middle of the channel, which shows that momentum is slowing down but not reversing.

The next resistance is at $64.50 to $65.20, matching the top of the channel and a minor Fibonacci extension. Support is found at $63.40 and then $62.50, where previous breakout levels and horizontal demand meet. The RSI is still above 60, showing that buyers are in control, but the pace of gains is slowing. There is no sign of a triangle breakdown, so the uptrend remains in place.

Trade idea: Consider buying on dips near $63.40, aiming for a target of $65.20, with a stop loss set below $62.50.

Brent Oil Price Forecast: UKOIL Tests $68.50: Breakout Holds Above Rising Trend Support

Brent crude is trading around $68.25 to $68.50, continuing its recovery on the 2-hour chart. The price moved above the previous resistance at $67.50, which now serves as the first support. Recent bullish candles with small upper wicks show buyers are still in control, but momentum is slowing near resistance.

The overall trend is supported by a rising trendline from the $63.30 low and the price staying above the 50-period moving average. Fibonacci retracement from the latest swing points to near-term support at $67.00 to $67.20. The RSI is above 60, showing bullish momentum without being overbought. If the price breaks above $68.60, it could move toward $69.40.

Trade idea: Consider buying on pullbacks near $67.50, with a target of $69.40 and a stop below $66.80.