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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As OPEC+ Maintains Production Plans
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Key Points:
- Natural gas traders switched to July 2025 contract.
- WTI oil settled above the $61.50 level as traders focused on OPEC+ decision.
- Brent oil climbed towards the $65.00 level.
Natural Gas
Natural gas settled below the $3.60 level as traders switched to July 2025 contract.
If natural gas pulls back below $3.55, it will head towards the support at $3.35 – $3.40.
WTI Oil
WTI oil gained ground as OPEC+ kept its production policy unchanged. It looks that market worried that OPEC+ may further boost production.
The technical picture remains unchanged as WTI oil needs to settle above the $63.00 level to gain momentum in the near term.
Brent Oil
Brent oil has also moved higher as traders reacted to OPEC+ decision. Traders bet that driving demand will absorb the planned production increases from OPEC+ countries.
A move above the $65.00 level will push Brent oil towards the nearest resistance level at $67.00 – $67.50.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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