Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Crude Inventories Drop By 6.9 Million Barrels

Natural Gas

Natural gas settled near the $3.80 level as traders switched from November 2025 contract to December 2025 contract.

If natural gas pulls back below the $3.75 level, it will head towards the support at $3.55 – $3.60.

WTI Oil

WTI oil gained some ground as traders focused on the EIA Weekly Petroleum Status Report, which showed that crude inventories declined by -6.9 million barrels from the previous week.

From the technical point of view, WTI oil needs to settle above the support at $60.00 – $60.50 to gain additional upside momentum in the near term.

Brent Oil

Brent oil moved higher as EIA report indicated that gasoline inventories decreased by -5.9 million barrels from the previous week.

In case Brent oil settles above the $65.00 level, it will move towards the 50 MA at $66.03.

For a look at all of today’s economic events, check out our economic calendar.