Natural Gas and Oil Forecast: Can Oil Prices Reclaim Bullish Momentum Above $75?

Market Overview

Oil prices declined by 0.67% to $74.03 per barrel amid heightened geopolitical tensions and shifting market policies, raising concerns over global energy supply and demand. Recent calls for increased production and potential trade measures have contributed to market volatility, with analysts warning of a possible downside if geopolitical risks escalate.

Meanwhile, major producers are expected to ramp up supply from April, which could further weigh on prices.

Analysts estimate that nearly 20% of the global Aframax fleet faces restrictions, adding to market complexities. As the energy sector navigates evolving risks, traders remain cautious about potential supply disruptions and regulatory shifts.

Natural Gas Price Forecast

Natural Gas (NG) prices are under pressure, currently trading at $3.30, down 4.64% on the day. The commodity has broken below key support levels, signaling a potential shift in market sentiment. The 50-day EMA at $3.89 is acting as a strong resistance, with prices struggling to reclaim higher ground.

If natural gas fails to break above the pivot point at $3.91, further downside could test immediate support at $3.72, with an extended decline targeting $3.49.

On the flip side, a move above $3.91 could attract buying interest, with resistance at $4.13 and $4.33 in focus. Traders should watch for a confirmed breakdown of the upward trendline, which may reinforce bearish momentum in the short term.

WTI Oil Price Forecast

U.S. crude oil (USOIL) is facing downward pressure, trading at $74.03, down 0.67% on the day. The price is struggling below the pivot point at $75.02, indicating bearish sentiment in the short term. Immediate support sits at $72.85, and if that level breaks, we could see a deeper decline toward $71.00.

The 50-day EMA at $75.68 is acting as a resistance barrier, making it difficult for buyers to push prices higher. However, the 200-day EMA at $73.73 is offering some support, potentially slowing further losses.

If oil reclaims $75.02, bullish momentum may return, targeting resistance levels at $76.77 and $78.45. For now, the market remains cautious, with sellers in control.

Brent Oil Price Forecast

UK oil (UKOIL) is trading at $78.44, up 0.77%, but remains below the critical pivot point of $78.70, signaling cautious market sentiment. Immediate resistance stands at $80.45, with further gains potentially targeting $81.76 if bullish momentum strengthens.

On the downside, support is seen at $77.03, with a deeper pullback possibly testing $75.70. The 50-day EMA at $79.13 acts as a resistance barrier, while the 200-day EMA at $76.88 provides strong support, keeping the broader trend intact.

A sustained break above $78.70 could shift sentiment toward the upside, while failure to do so may invite selling pressure.