Natural Gas and Oil Forecast: Will OPEC+ Cuts and Demand Shifts Drive Prices?

Market Overview

Crude oil futures fell to $66.6 per barrel as weakening economic data and trade uncertainty weighed on global demand. China’s consumer prices declined for the first time in 13 months, signaling deflation risks in the world’s largest crude importer.

Meanwhile, tariff policy shifts and countermeasures from key economies have added to concerns over economic growth and energy consumption. OPEC+ confirmed April production increases, but potential supply adjustments remain on the table if market conditions worsen.

Despite these pressures, energy markets found some stability amid renewed sanction risks and geopolitical uncertainty, keeping volatility high in oil and gas forecasts.

Natural Gas Price Forecast

Natural Gas (NG) prices surged to $4.617, breaking through a key resistance zone at $4.484. This breakout signals renewed bullish momentum, but the next major resistance at $4.703 will be the key test for sustained upside. If buyers maintain control and push beyond this level, we could see an extension toward $4.900 in the near term.

On the support side, the 50-day EMA at $4.206 now acts as a strong base, while the 200-day EMA at $3.778 remains a long-term support zone. A pullback toward $4.484 would be a healthy retest, but if this level fails, natural gas prices could revisit $4.132 and even $3.873.

The bullish breakout is encouraging, but gas prices need to hold above $4.484 to confirm sustained momentum. If sellers step in, a reversal toward support levels is likely, making $4.484 a crucial pivot point for near-term price action.

WTI Oil Price Forecast

Crude oil (USOIL) is struggling to find upside momentum, currently trading at $66.65. The price remains confined within a descending channel, reinforcing the bearish trend. The 50-day EMA at $68.03 and the 200-day EMA at $70.57 are acting as strong resistance zones, keeping sellers in control and limiting any potential recovery attempts.

For a shift in sentiment, WTI needs to break above $68.44, which would open the door for a move toward $69.71. On the downside, if WTI fails to hold $65.53, it could extend losses toward $64.11, with further downside potential toward $62.50. Given the current market dynamics, traders should watch for a break below $65.53 to confirm further downside pressure.

Brent Oil Price Forecast

Brent crude (UKOIL) is attempting a recovery but is facing strong resistance near $70.01 after rebounding from support at $68.50. The price remains below the descending trendline and the 50-day EMA at $71.23, indicating weak bullish momentum. The 200-day EMA at $73.94 stands as a critical long-term resistance level that needs to be broken for a sustained bullish reversal.

A breakout above $71.41 would be required to turn sentiment bullish, potentially driving prices toward $73.36. However, if $68.50 fails to hold, Brent could decline further toward $66.86 and potentially $65.00. Until $71.41 is decisively cleared, Brent remains vulnerable to further downside pressure.