Natural Gas and Oil Forecast: Key Insights
Published: January 9, 2026
Market Overview
The global energy markets are currently experiencing heightened geopolitical risks, which are contributing to an increase in crude oil prices. Despite these concerns, the overall fundamentals of the oil market remain stable. As of the latest reports, Brent crude oil is priced at approximately $62.40 per barrel, while WTI crude oil is at around $58.10 per barrel. This price increase follows two consecutive days of gains as traders assess the potential for supply disruptions in key oil-producing regions.
Geopolitical Risks and Price Volatility
Ongoing tensions among major oil-producing nations have raised concerns about the ability to maintain oil production and distribution. This uncertainty has led to a risk premium being added to oil prices. However, the presence of a global oil surplus and slower-than-expected demand growth suggests that prices may not experience extreme fluctuations in the near term. The market is currently in a wait-and-see mode, looking for clearer signals to navigate the geopolitical landscape.
Natural Gas Market Analysis
Natural gas prices are stabilizing around $3.43, with a strong support zone between $3.35 and $3.40. Recent trading patterns indicate that selling pressure is being absorbed, suggesting a potential for upward movement. The market remains capped below a descending trendline from December, indicating a corrective structure. The Relative Strength Index (RSI) is at 45, indicating muted momentum with potential for recovery. Key resistance levels are identified at $3.60 to $3.65, while support remains firm at $3.35.
WTI Oil Price Forecast
WTI crude oil is currently trading near $58.35, having rebounded from a support zone of $55.70 to $56.00. The recent price action shows long lower wicks, indicating demand strength. The market is within a descending channel, with a tightening triangle structure forming. The 50-EMA has crossed above the 200-EMA, suggesting short-term stabilization. Immediate resistance is noted at $58.70 to $59.00, with support at $56.70. A trading strategy suggests buying above $58.70 with a target of $60.50 and a stop loss below $57.80.
Brent Oil Price Forecast
Brent crude oil is trading around $62.60, having rebounded sharply from a base of $59.80 to $60.00. The bullish price action indicates strong buying pressure, with recent candles showing limited upper wicks. The price has broken above a short-term descending trendline and is supported by a rising diagonal trend. The 50-EMA is trending upwards towards the 200-EMA, indicating a positive short-term outlook. Immediate resistance is at $63.00 to $63.20, while support is at $60.80. A recommended trading strategy is to buy on dips near $61.90, targeting $64.00 with a stop loss below $60.80.
Conclusion
The current energy market is characterized by geopolitical uncertainties impacting oil prices, while natural gas shows signs of stabilization. Traders are advised to monitor key support and resistance levels closely as they navigate these volatile conditions.