Natural Gas and Oil Forecast: WTI, Brent Break Higher as Geopolitical Fears Grow

Market Overview

WTI crude oil climbed to $71.60 per barrel, its highest level in over a month, as geopolitical tensions stoked fears of supply disruptions. Traders reacted to escalating rhetoric around secondary tariffs targeting global crude flows, with concerns that key importers could face restrictions on sourcing Russian and Iranian oil.

The uncertainty has fueled bullish momentum in oil markets, even as demand risks remain in focus. Market participants are also closely watching for further tariff policy announcements, which could weigh on global growth and energy consumption.

The current price action reflects a complex balancing act between geopolitical risk premiums and demand headwinds.

Natural Gas Price Forecast

Natural gas recently broke above its months-long descending trendline, confirming a bullish breakout backed by a clean ABCD harmonic pattern. However, price stalled near $4.235 resistance, just below the upper boundary of the pattern, signaling temporary exhaustion.

NG is currently hovering above its 50 EMA at $4.026 and the 200 EMA at $3.955—both now upward-sloping, which reinforces the broader bullish momentum.

Support at $4.080 is now key. If it holds, bulls may aim for another test of $4.235, and a breakout above that level could open the door toward $4.401. Failure to maintain above the trendline could bring price back to test $4.000 and $3.958.

Overall, structure favors the bulls, but they need follow-through above $4.235 for confirmation. Natural gas is holding above key EMAs with bullish structure intact. A breakout above $4.235 could spark a rally toward $4.40. Bias stays bullish above $4.080.

WTI Oil Price Forecast

WTI crude has staged a sharp rally, climbing above the $71.23 pivot after breaking through its ascending channel’s midline. Three strong bullish candles on elevated volume signal growing conviction among buyers.

The current structure shows prices holding firm above both the 50 EMA at $69.39 and the 200 EMA at $69.27—reinforcing the upward bias. Immediate resistance stands at $72.18, followed by a key test near $73.11. On the downside, support sits at $71.00 and then $70.38, just above the channel’s lower edge.

The upward channel remains intact, and price action is cleanly riding along the upper third. As long as WTI holds above $71.00, bulls appear in control. WTI remains bullish within an ascending channel, supported by three consecutive bullish candles and price trading above key EMAs.

Brent Oil Price Forecast

Brent crude is pushing higher within an ascending channel, with price action extending firmly above the $74.55 pivot. The rally has been supported by three consecutive bullish candles, which drove prices through key moving averages.

The 50 EMA ($72.87) has crossed back above the 200 EMA ($72.79), reinforcing bullish sentiment and marking a potential trend shift.

Immediate resistance sits at $75.62, followed by a key test at $77.08. On the downside, $74.55 acts as a fresh support level, followed by $73.64 if prices pull back. Price remains well above the midline of the rising channel, with strong momentum and structure favoring further upside.

As long as Brent holds above $74.55, the bullish bias remains intact. A breakout above $75.62 could accelerate gains toward $77.00+

Brent crude extends its rally above key EMAs, supported by bullish candles and an intact upward channel. Breakout above $74.55 keeps buyers in control.