Natural Gas and Oil Forecast: Uptrend Intact for Brent as Bulls Defend $72.62 Pivot

Market Overview

Crude oil prices climbed on supply concerns as geopolitical tensions deepened and the U.S. moved to restrict exports from key producers. Brent and WTI both touched three-week highs, supported by a sharper-than-expected 4.6 million barrel draw in U.S. crude inventories—well above the 1 million barrel consensus forecast.

Energy markets also responded to delayed crude flows to Asia, with traders awaiting clarity on new U.S. restrictions. Despite the upward momentum, analysts warn of limited upside amid slowing global growth and fragile demand.

Ongoing ceasefire discussions and easing sanctions in Eastern Europe may further moderate gains in the coming sessions.

Natural Gas Price Forecast

Natural Gas (NG) is trading at $3.91, just under the 50 EMA at $4.11 and the pivot point at $3.99, signaling a market that’s still under pressure. The price action has respected a downward trendline, and unless we see a decisive move above $3.99, the tone remains cautiously bearish.

Resistance sits at $4.12, and then $4.26, both of which would need to break to shift momentum meaningfully.

On the downside, immediate support is at $3.79, with stronger footing at $3.65. The 200 EMA at $3.93 is flat, suggesting indecision, but if price continues to stall below $3.99, sellers may regain control.

WTI Oil Price Forecast

Crude oil (USOIL) is hovering at $69.24, just above its pivot point at $68.49 and comfortably trading over both the 50 EMA ($68.10) and 200 EMA ($69.06). That bullish EMA crossover is helping prices hold steady, but there’s a clear ceiling ahead at $69.66, where a downward trendline is putting pressure on further upside.

If that resistance breaks, we could see a push toward $70.57, but until then, bulls may stay cautious.

On the flip side, if prices slip below $68.49, momentum could quickly reverse, with $67.61 and $66.59 offering the next levels of support. Right now, the trend leans bullish—but that ceiling at $69.66 remains a key hurdle.

Brent Oil Price Forecast

Brent crude (UKOIL) is trading at $73.24, showing slight gains and holding above its pivot point at $72.62, which keeps the short-term outlook constructive. The price is also trading above both the 50 EMA ($71.90) and 200 EMA ($72.61), where a recent bullish crossover reinforces the current upward bias.

Immediate resistance sits at $73.62, and a break above that could open the door to $74.91. There’s also an upward trendline underneath, offering additional support to buyers.

On the downside, a drop below $72.62 could signal fading momentum, with support at $71.46 and $70.50 coming into focus. For now, the trend remains intact—but bulls need to push through $73.62 to keep control.