Natural Gas and Oil Forecast: Will OPEC+ Policy Shift Impact Prices?

Market Overview

Oil prices dipped on Thursday, pressured by a rise in U.S. gasoline inventories and easing supply concerns tied to Middle East tensions. The U.S. Energy Information Administration reported a 3.3-million-barrel inventory build, defying expectations of a decline.

With OPEC+ set to discuss production policy this weekend, markets anticipate a potential delay in planned output increases. While slowing demand from key consumers like the U.S. and China has weighed on energy markets, supply constraints have tempered losses.

Analysts note that ongoing geopolitical risks, coupled with uncertain demand dynamics, will continue to shape the near-term outlook for oil and natural gas.

Natural Gas Price Forecast

Natural Gas (NG) prices are trading at $3.16, down 0.44%, as bearish sentiment dominates below the $3.20 pivot point. Immediate resistance stands at $3.35, with higher levels at $3.52 and $3.63, while support zones are observed at $3.07, $2.95, and $2.84.

The 50-day EMA, at $3.30, aligns with key resistance, acting as a hurdle for upward momentum. Meanwhile, the 200-day EMA at $3.07 highlights a crucial support level.

The current trend suggests continued pressure unless prices break decisively above $3.20, which could shift momentum toward a bullish bias. Conversely, a sustained drop below $3.07 may open the door to deeper declines toward $2.95. Watch these levels closely for potential opportunities.

WTI Oil Price Forecast

USOIL is trading at $68.55, down 0.24%, as bearish momentum persists below the $68.93 pivot point. A downward trendline is reinforcing resistance near this level, keeping sellers in control. Immediate resistance sits at $69.65, with higher hurdles at $70.28 and $71.22.

On the downside, support is seen at $68.01, followed by $67.28 and $66.60, providing key levels to watch for potential declines.

The 50-day EMA at $69.17 and 200-day EMA at $69.43 highlight additional resistance zones, underscoring the importance of a breakout above $68.93 to shift sentiment. Until then, the bias remains bearish, with any move below $68.01 signaling the possibility of further downside. Keep an eye on these critical levels for guidance.

Brent Oil Price Forecast

UKOIL is trading at $72.12, down 0.28%, with a bearish bias prevailing below the $72.37 pivot point. A downward trendline is reinforcing resistance near this level, making it a critical threshold for any shift in momentum.

Immediate resistance is positioned at $72.83, aligned with the 50-day EMA, while further barriers stand at $73.39 and $73.73, supported by the 200-day EMA at $73.21.

On the downside, support is located at $71.60, with lower levels at $71.16 and $70.68 offering potential cushions. Breaking below $71.60 could deepen bearish momentum, while a decisive move above $72.37 would suggest a reversal toward bullish territory.