Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs As Crude Inventories Drop

Natural Gas

Natural gas settled near the $3.75 level as traders switched from February 2026 contract to March 2026 contract.

From the technical point of view, natural gas settled between the support at $3.50 – $3.55 and the resistance at $3.95 – $4.00.

WTI Oil

WTI oil tested new highs as traders reacted to the EIA report. The report indicated that crude inventories decreased by -2.3 million barrels from the previous week, compared to analyst forecast of +1.8 million barrels.

In case WTI oil manages to settle above the $63.50 level, it will head towards the next resistance at $65.50 – $66.00.

Brent Oil

Brent oil gained ground as traders remained focused on the situation in Iran and evaluated supply risks.

A move above the $68.50 level will push Brent oil towards the resistance at $69.50 – $70.00.

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