Oil and natural gas markets remain volatile as traders weigh geopolitical tensions and trade uncertainties.

Crude oil prices held steady as markets assessed the potential impact of tariff measures on major energy suppliers, News.Az reports, citing foreign media.

Meanwhile, U.S. crude stockpiles increased by 3.46 million barrels, reflecting reduced demand from recent weather disruptions.

On the supply side, Russian crude exports are set to decline by 8% as refining activity increases, while OPEC+ prepares for its upcoming policy meeting.

Analysts remain skeptical of a potential price war between major producers, noting that an oversupply scenario could drive Brent crude prices below $50 if spare capacity is aggressively deployed. Traders now await further signals on production policy and global energy demand shifts.

Natural gas price forecast

Natural Gas (NG) Price Chart

Natural Gas (NG) is treading water at $3.17, with traders closely watching the $3.20 pivot level for directional cues. The commodity remains below its 50-day EMA at $3.28 and well under the 200-day EMA at $3.38, reinforcing a cautious outlook.

A break above $3.20 could spark a move toward the $3.37 resistance, potentially extending gains to $3.51 if bullish momentum strengthens. On the downside, immediate support at $3.01 is critical—losing this level may accelerate declines toward $2.88.

The market remains bearish below $3.20, with sellers in control unless buyers step in to reclaim higher ground. Until then, traders should remain cautious, as a failure to hold above key technical levels could invite further downside pressure.

WTI oil price forecast

WTI Price Chart

Crude oil (USOIL) is trading at $72.51, down 0.61%, as it struggles to find footing below the $73.49 pivot level. The 50-day EMA at $73.73 and the 200-day EMA at $74.62 continue to act as strong resistance, keeping sellers in control for now.

A break above $73.49 could shift momentum, targeting $74.93, with further upside potential toward $75.95. However, failure to reclaim this level may push oil toward $72.32, with $71.25 as the next major support.

For now, the trend remains bearish below $73.49, but a decisive move above resistance could spark a fresh rally. Traders should watch for volume confirmation before positioning for a reversal or further downside.

Brent oil price forecast

Brent Price Chart

Brent crude (UKOIL) is trading at $75.40, down 0.59%, as it remains under pressure below the $76.38 pivot level. The 50-day EMA at $77.52 and the 200-day EMA at $78.00 signal a bearish bias, keeping upside momentum in check.

A break above $76.38 could trigger a push toward $77.83, with an extended move potentially testing $79.54. However, failure to reclaim this level may reinforce selling pressure, dragging prices toward $74.68, with $73.73 as the next critical support.

For now, the market remains bearish below $76.38, and sellers have the upper hand unless buyers regain control above resistance. A confirmed breakout or further rejection at these levels will determine the next directional move.

News.Az