Natural Gas and Oil Forecast: Market Eyes OPEC+ Output and U.S. Stockpiles

Market Overview

Oil prices edged higher in Asian trading but remain on course for a third consecutive weekly decline, pressured by ongoing geopolitical tensions and supply concerns. Market volatility intensified following new trade restrictions and sanctions impacting global crude flows.

Analysts point to persistent supply-demand headwinds, with rising U.S. stockpiles and potential increases in OPEC+ output limiting gains. Meanwhile, uncertainty surrounding global trade policies continues to dampen energy demand expectations.

As natural gas and oil markets navigate these fluctuations, traders remain cautious, monitoring policy shifts and economic data for further direction on price stability and future supply trends.

Natural Gas Price Forecast

Natural Gas (NG) is holding steady at $3.38, up 0.24%, as traders assess key technical levels. The price remains above the pivot point at $3.31, signaling near-term bullish momentum. Immediate resistance stands at $3.43, and a break above this level could push NG toward the next hurdle at $3.55.

On the downside, support at $3.17 remains critical, followed by a stronger floor at $3.04. The 50-day EMA at $3.30 and 200-day EMA at $3.32 suggest that the price is hovering near a key inflection point. If buyers defend $3.31, an upward push is likely. However, a drop below this level could lead to increased selling pressure.

WTI Oil Price Forecast

U.S. crude oil (USOIL) is trading at $70.84, up 0.51%, as prices attempt to stabilize following recent losses. However, the market remains under pressure, with oil struggling below the pivot point at $71.78, signaling a bearish outlook unless buyers reclaim this level.

Immediate resistance is seen at $73.12, followed by a stronger hurdle at $74.74. A breakout above these levels could shift momentum toward the upside.

On the downside, $70.44 is acting as immediate support, with the next key level at $69.14. The 50-day EMA at $71.78 aligns with the pivot, reinforcing its significance. Meanwhile, the 200-day EMA at $73.34 suggests that oil remains in a downtrend. Unless WTI clears $71.78, the downward trajectory is likely to persist.

Brent Oil Price Forecast

Brent crude (UKOIL) is trading at $74.60, up 0.57%, as it attempts to recover from recent losses. However, the market remains in a fragile state, struggling below the pivot point at $75.12. Until oil breaks above this level, bearish sentiment is likely to dominate. Immediate resistance stands at $76.18, followed by a stronger cap at $77.20. A decisive move above these levels could shift momentum in favor of buyers.

On the downside, $74.08 serves as immediate support, with a deeper floor at $73.12. The 50-day EMA at $75.20 reinforces the bearish outlook, while the 200-day EMA at $76.58 signals a broader downtrend. If Brent fails to reclaim $75.12, further declines are possible.