Geopolitical tensions are stoking fears of tight oil supplies, driving WTI prices up to $61.20 amid fresh global sanctions.
Natural gas futures consolidate near $3.742 with a triangle breakout hinting at a possible rally if $3.800 holds.
Brent oil prices face resistance at $64.29–$64.48, needing a breakout above this zone to challenge $65.27 and $66.59.
Natural Gas and Oil Forecast: OPEC+ Talks and Global Sanctions Stir Price Volatility
Market Overview
Geopolitical tensions continue to rattle energy markets, sending WTI crude oil futures up to $61.20 per barrel on Wednesday, reversing recent losses. Heightened concerns over potential new sanctions on a major energy producer have stoked fears of supply constraints.
Compounding the tightness, restrictions on a U.S. firm’s crude exports have shifted demand toward alternative suppliers. In parallel, anticipation of an OPEC+ meeting, where a production hike of 411,000 barrels per day may be tabled, adds to the volatility.
The complex interplay of global trade policies and supply risks keeps traders on edge, highlighting the fragile balance underpinning global energy prices.
Natural Gas Price Forecast
Natural Gas Futures (NGM2025) are showing signs of consolidation after a sharp bounce from $3.561, now hovering near $3.742. Price action has formed a triangle pattern, with a breakout attempted above the $3.663 resistance and key trendline.
However, recent candles show hesitation at this breakout point, hinting at possible profit-taking or exhaustion. The 50-period EMA ($3.680) and 200-period EMA ($3.747) are closely tracking, indicating a potential battle between short-term bullish momentum and broader resistance.
A sustained close above $3.800 could signal a stronger upward move towards $3.954 and $4.077. Conversely, if the price dips back below $3.663, we could see a retest of support levels at $3.561 or $3.447. Traders should watch for a confirmed breakout or breakdown.
