Natural Gas and Oil Forecast: WTI Holds $65 While Gas Faces Key $3.30 Resistance

Market Overview

WTI crude futures climbed above $65.26 a barrel, marking a three-week high and a weekly gain of over 4%, the strongest since early June. Supply concerns intensified as geopolitical tensions threatened energy infrastructure, raising risks of tighter exports.

Natural gas prices held steady near $3.20, supported by firm demand but capped by technical resistance. While oil’s rebound reflects heightened uncertainty in global supply chains, the reintroduction of Kurdish exports has tempered fears of shortages.

Broader trade frictions and cautious expectations for U.S. rate cuts continue to inject volatility, keeping energy markets delicately balanced between supply risks and demand shifts.

Natural Gas Price Forecast

Natural gas is trading near $3.21, consolidating after a rebound from $2.98. The 4-hour chart shows price still capped by a descending channel, with resistance at $3.33 and support at $3.14. Both the 50-EMA ($3.21) and 200-EMA ($3.30) are flattening, showing indecision as bulls attempt to reclaim momentum. RSI sits at 49, reflecting neutral conditions after easing from recent highs.

Candlestick action suggests hesitation, with small-bodied candles forming below trendline resistance. A breakout above $3.33 would target $3.45 and $3.54, while failure to clear $3.30 risks a pullback toward $3.14 and $3.05.

For traders, entries above $3.30 favor a bullish move, while stops below $3.05 protect against downside if the channel holds.

WTI Oil Price Forecast

WTI crude oil is trading around $65.26, consolidating after breaking through a key resistance zone near $65.05–$65.36. The move followed a rebound from $62.70, with prices climbing above both the 50-period EMA at $64.18 and the 200-period EMA at $63.62, reinforcing bullish momentum.

The RSI sits at 66, showing strength but edging close to overbought levels, which could invite short-term pullbacks. Price action remains constructive, with higher lows along the trendline supporting buyers.

A close above $65.36 would open the door to $66.04 and $66.70, while failure to hold above $64.70 risks a dip back to $64.00. For now, crude holds its bullish structure, but traders should watch momentum closely near resistance.

Brent Oil Price Forecast

Brent crude is holding at $68.74 after breaking out of a symmetrical triangle, hinting at renewed bullish momentum. Price trades above the 50-EMA ($67.85) and 200-EMA ($67.44), both acting as support after a bullish crossover. The breakout was confirmed by strong candles, with RSI at 64 showing room for further gains before overbought conditions.

Resistance sits at $69.45, followed by $70.08 and $70.82, while support rests at $67.95 and $67.30. The breakout structure and higher-low pattern suggest buyers remain in control.

For traders, entries around $68.50–$68.70 with stops below $67.30 target $69.45 initially, with potential extension toward $70–$71 if momentum strengthens. The technical outlook favors upside as long as support zones hold.