Natural Gas and Oil Forecast: WTI Holds $63.80 – Breakout or Pullback?

Market Overview

Oil prices rose slightly as ongoing geopolitical tensions raised concerns about supply routes and exports, keeping a risk premium in global energy markets. Traders considered possible disruptions in major shipping lanes, and diplomatic uncertainty added to market volatility. Meanwhile, stronger demand in Asia, especially from India, helped use up extra oil that had pushed prices down late last year.

Inventory data made the picture more complicated. Market estimates suggested an 800,000-barrel increase in US crude stocks, but industry data showed a much larger 13.4 million-barrel rise. Meanwhile, gasoline and distillate inventories were expected to fall by 400,000 and 1.3 million barrels.

Natural gas futures also showed the impact of broader risk, staying close to $3.10 per MMBtu as traders balanced weather-driven demand with steady supply. Overall, tighter market conditions and geopolitical risks continue to support short-term forecasts for both oil and gas.

Natural Gas Price Forecast: NG Futures Slip Toward $3.00 as Fib Support Gets Tested

Natural Gas (NGH2026) is trading near $3.09 on the 4-hour chart after failing to hold above the $3.34 (0.236 Fib) resistance. The strong rally from below $1.00 topped near $4.40, and price has since entered a corrective phase, retracing toward the highlighted demand zone around $3.00–$3.10.

Since the $4.40 peak, candlesticks have shown lower highs, with recent candles having smaller bodies and slight downward movement. The price is just above short-term support, while the 50-period moving average near $3.20 has flattened and now acts as resistance. The 100-period moving average around $2.16 is still rising, supporting the overall recovery.

Key support is at $2.68 (0.382 Fib), then $2.15 (0.5 Fib). If the price falls below $3.00, selling could speed up toward these levels. To regain momentum, buyers need to push the price back above $3.34, aiming for $3.90.

Trade idea: Consider selling if the price drops below $3.00, with a stop above $3.35 and a target of $2.68.

WTI Crude Oil Price Forecast: Bulls Defend $63.80 as Uptrend Structure Holds

WTI crude oil is trading around $64.35 on the 4-hour chart, holding higher lows above a clear rising trendline that has been in place since early January. After pulling back from the $66.45 high, the price found support near $62.57, and buyers returned, keeping the overall bullish trend intact.

The price is now moving between support at $63.81 and resistance at $65.50. The 50-period moving average near $63.50 is trending upward, and the 100-period moving average around $61.23 also supports the uptrend. Recent candlesticks have moderate bodies and balanced wicks, showing short-term consolidation instead of selling pressure.

If the price moves clearly above $65.50, it could head toward $66.45 and possibly $67.45. If it falls below $63.80, the next support is at $62.57, with stronger support near $61.23. Momentum should stay positive as long as the price remains above the rising trendline.

Trade idea: Consider buying near $63.80, with a stop below $62.50 and a target of $66.40.

Brent Crude Oil Forecast: UKOIL Holds $68.40 Support as Bulls Target $70.50

Brent crude (UKOIL) is trading around $69.20 on the 4-hour chart, staying above the rising trendline that has supported prices since late January. The market has made higher lows, and buyers have held the $68.40 support area after the pullback in early February.

Recent candlesticks show the price consolidating below the $69.50 resistance, with small bodies and moderate wicks that suggest short-term balance instead of strong selling. The 50-period moving average near $67.80 is moving up, and the 100-period moving average around $65.40 supports the overall bullish trend.

The first resistance is at $69.50, then $70.54 and $71.78. If the price breaks above $70.50, it could continue toward higher resistance levels. If it closes below $68.40, the next support is at $67.57, with stronger support near $66.60. Momentum should stay positive as long as the price stays above the rising trendline.

Trade idea: Consider buying near $68.50, with a stop below $67.50 and a target of $70.50.