Natural Gas, WTI Oil, Brent Oil Forecasts – Gas Capped by Mild Temps, Crude Gains on Qatar Risk

Natural Gas Prices Forecast: Rally Stalls Below $3.238 as Mild Demand Caps Upside

Natural gas futures moved higher Tuesday, lifted by hotter EC weather models, but failed to punch through key resistance. October ’25 contracts briefly exceeded $3.130—last week’s ceiling—but retreated as the rally lost momentum.

The market is now pressing against the 50-day moving average at $3.200, with major resistance at the pivot high of $3.238. A close above this level would open the door to $3.580. Support is seen at $2.947, followed by $2.695. These levels reflect the most recent swing low and structural base, respectively.

Weather-driven demand remains weak for the week of Sept 9–15. Temperatures across the northern U.S. remain mild, with highs in the 60s–80s, while only parts of the southern U.S. are projected to reach into the upper 90s and 100s. Without a fresh weather catalyst or strong inventory print, further upside appears capped.

Outlook: Neutral-to-bullish. A confirmed breakout above $3.238 would shift the technical structure decisively higher. Below that, expect continued consolidation between $2.947 and $3.238.

WTI Crude Oil News Today: Testing $63.31 as Supply Risks Mount

WTI crude futures closed at $62.70, gaining 0.71% on Tuesday. Traders remain focused on the 200-day moving average at $63.31, which has capped multiple rallies. A clean break above would confirm bullish continuation.

Key upside levels include the 50-day moving average at $64.40, followed by $64.56 and $66.03. Support holds at $61.45 and $61.12, with a deeper floor at $56.09 if the market weakens.

OPEC+ surprised with a smaller October production increase of just 137,000 bpd, keeping supply expectations tight. China continues buying for strategic reserves at a pace near 500,000 bpd, absorbing excess supply. Meanwhile, Israel’s airstrike on Hamas leaders in Qatar has drawn broad condemnation and reignited concerns of further escalation in the energy-rich region.

Outlook: Bullish. A daily close above $63.31 would trigger upside toward the mid-$60s. Failure to break would likely result in continued range-bound action between $61.12 and $63.31.

Brent Oil Prices Projections: Traders Watch $67.700 Resistance After Qatar Strike

Brent crude ended Tuesday at $66.31, up 0.78%, with traders closely monitoring the 200-day moving average at $67.70—the nearest and most relevant resistance level.

A break above $67.70 would mark a technical shift, targeting the swing highs in the $68.40s and beyond. Immediate support is seen at $64.92 and $64.37—two structural levels that have held during recent pullbacks.

The market is factoring in rising geopolitical tensions following Israel’s strike on Hamas leaders in Doha, a move condemned by OPEC+ members including Saudi Arabia, Iran, and the UAE. This adds to already bullish fundamentals, including weak OPEC+ spare capacity and continued Chinese crude stockpiling.

Outlook: Bullish bias remains intact. A confirmed move above $67.70 would unlock further upside. Until then, Brent is expected to trade between $64.37 and $67.70, driven by geopolitical headlines and technical flows.

More Information in our Economic Calendar.