Natural Gas and Oil Forecast: WTI Holds Steady as Energy Markets Brace for OPEC, EIA Data

Market Overview

WTI crude hovered near $60.10 per barrel, its highest level in over two weeks, as rising geopolitical tensions tightened global supply expectations. Energy markets remained sensitive after diplomatic talks between major powers failed to ease international conflicts, keeping restrictions on key exporters in place and leaving critical infrastructure at heightened risk.

Analysts also flagged potential disruptions to roughly 1.1 million bpd of South American output should regional instability escalate.

Expectations of a US interest-rate cut added further support, with traders anticipating stronger fuel demand. Investors now await fresh EIA and OPEC+ reports for updated supply-demand guidance across oil and natural gas markets.

Natural Gas Price Forecast

Natural gas is trading around $5.14, holding above a rising trendline that has guided price higher since late November. Recent 2H candles show strong rebounds from the $5.00–$5.10 zone, while price remains above the 20-EMA ($5.09) and well above the 200-EMA ($4.65), keeping the broader uptrend intact. The next resistance sits at $5.27, followed by $5.48, which marks the recent swing high.

A clean breakout above $5.27 could push prices toward $5.48, with trendline momentum supporting the move. If natural gas pulls back, support rests at $5.10, then $4.95 near the trendline. The RSI near 60 signals steady momentum without showing overbought conditions. Overall, buyers remain in control as long as $5.00 holds.

WTI Oil Price Forecast

WTI crude oil is trading near $60.20, holding inside a well-defined ascending channel that has guided price higher since the late-November rebound. Recent 2H candles show steady higher lows and consistent closes above the 20-EMA ($59.70), signaling firm short-term support. Price is now testing resistance at $60.49, where multiple wicks earlier in the week showed hesitation.

A clean break above $60.49 would expose the next resistance at $61.46, followed by the channel top near $62.04. On the downside, initial support sits at $59.43, with stronger footing at $58.82 if pullbacks deepen. The RSI near 60 leans bullish but isn’t stretched, supporting the ongoing upward bias.

Brent Oil Price Forecast

Brent crude is trading near $63.86, holding firmly inside a rising channel that has guided price higher since the late-November bottom. Recent 2H candles continue to form higher lows while staying above the 20-EMA ($63.60), reinforcing short-term buying interest. Price is now testing resistance at $64.39, where several rejection wicks formed earlier in the week.

A breakout above $64.39 would open the way toward $65.31 and the channel top near $65.99. The dashed mid-channel trendline also aligns with these targets, adding confluence. If Brent pulls back, first support sits at $63.20, followed by stronger footing at $62.53. The RSI near 60 supports continued upward momentum without showing signs of exhaustion.