Natural Gas and Oil Forecast: WTI, Brent Under Pressure While NG Clings to Fibonacci Support

Market Overview

WTI crude futures held near $63 a barrel, close to a two-month low, as demand signals softened and global tensions weighed on sentiment. U.S. API data showed a 1.52-million-barrel crude stock build, gasoline inventories fell, and distillates edged higher, hinting that the summer demand peak is fading.

The EIA projects U.S. output to hit a record 13.4 million bpd in 2025 before easing, while OPEC left next year’s demand forecast steady but lifted its 2026 growth outlook to 1.38 million bpd. The U.S. DOE now sees this year’s global oil surplus at 1.7 million bpd, underscoring a well-supplied market.

Natural Gas Price Forecast

Natural Gas futures are trading at $2.818, stabilizing after a sharp drop toward the $2.776 support zone. Price is rebounding into the 23.6% Fibonacci retracement at $2.826, with higher resistance levels at $2.857 (38.2%), $2.882 (50%), and $2.901 (61.8%).

The 50-EMA at $2.930 and the 100-EMA at $2.992 remain key barriers within the broader downtrend. RSI is at 34.49, showing weak momentum but edging up from oversold territory.

Unless price breaks above $2.882 with conviction, the current recovery could be corrective, with potential for another leg down toward $2.776 and lower supports at $2.725 and $2.710. Bulls need to reclaim the $2.930–$2.942 zone to shift the short-term outlook toward a sustained reversal.

WTI Oil Price Forecast

WTI Crude Oil remains under pressure, trading at $63.00 within a well-defined descending channel. Price is capped by the 50-EMA at $63.98 and the 100-EMA at $64.81, both acting as dynamic resistance. Immediate horizontal support rests at $62.13, followed by $61.29. The RSI at 33.27 signals weak momentum, hovering just above oversold territory, while the slope remains negative.

Short-term structure favors sellers unless a break above $64.29 occurs, which could shift momentum toward $65.15. Sustained closes below $62.13 may open the way toward $61.10 and $60.46.

For now, sellers maintain control, but the proximity to oversold levels suggests potential for a short-lived corrective bounce before any further decline.

Brent Oil Price Forecast

Brent Crude Oil is trading at $66.04, moving within a well-defined descending channel that has contained price action since early August. The 50-EMA at $66.80 and the 100-EMA at $67.56 serve as immediate dynamic resistance levels.

Price is consolidating just above horizontal support at $65.88, with additional key levels at $65.20 and $64.99. The RSI stands at 37.71, indicating subdued momentum while avoiding oversold conditions. A break above $67.13 could challenge $68.14 and potentially shift the short-term bias upward.

Conversely, sustained weakness below $65.88 may invite further downside toward $64.99 and $64.30. Momentum remains bearish, but the market is near levels where short-term rebounds can develop if sellers fail to extend the decline.