Natural Gas, WTI Oil, Brent Oil Forecasts – Energy Markets Stall Below Key Averages

Energy Prices Under Pressure: Brent, WTI, and Natural Gas Outlook

Brent crude, WTI oil, and natural gas posted mixed results this week, with markets balancing geopolitical risks against supply and demand concerns. A Ukrainian drone strike briefly disrupted Russian exports, lending support, but U.S. economic data and IEA’s stronger supply outlook limited gains. The overall tone remains cautious, with crude capped at key resistance levels while gas holds just above support.

Natural Gas: Bears Retake Control

Natural gas futures settled at $2.941, up $0.007 or +0.24%. Despite the modest gain, sentiment remains weak as abundant U.S. storage and muted power burn demand cap upside. Weather volatility has not been enough to shift the broader balance, with supply still running ahead of demand recovery.
Technically, gas is constrained below the 50-day moving average at $3.158, with the 200-day much higher at $3.931. Resistance stands at $3.198 and $3.238, while support is seen in the $2.947–$2.887 band and the $2.695–$2.647 late-August low.

Brent Crude: Rejected at 50-Day

Brent crude settled at $66.50, up $0.54 or +0.82%. Supply disruption from Russia’s Primorsk port provided some support, but the contract remains heavy below its 50-day moving average. Traders remain cautious as global supply growth outpaces demand recovery.
Resistance is at $67.63, then $69.33 and the 200-day at $69.73. Support sits at $64.92, followed by $64.73. Brent stays bearish while under the 50-day moving average at $67.63.

WTI Crude: Break Below 200-Day

WTI crude futures settled at $62.69, up $0.32 or +0.24%. Even with the modest gain, the contract remains under the 200-day moving average at $63.30, confirming a bearish technical stance.
Resistance stands at $63.30 (200-day), $64.31 (50-day), and $64.56. Support is at $61.45, followed by $61.12. WTI remains bearish below the 200-day moving average.

Market Forecast

The short-term outlook remains tilted bearish. Natural gas is trapped under resistance despite a small uptick, Brent is capped at the 50-day, and WTI trades below its 200-day. Without fresh supply shocks, rallies are likely to face selling pressure, keeping the energy complex under strain.

More Information in our Economic Calendar.