Commodities Market Analysis: Natural Gas and Oil Forecast
Published: April 06, 2026
Author: Vladimir Zernov
Key Highlights
- Natural gas is attempting to settle below the $2.80 level.
- WTI oil is experiencing volatility due to geopolitical tensions in the Middle East.
- Brent oil is hovering around the $110.00 mark.
Natural Gas Market Overview
Natural gas prices are currently trying to settle below the support level of $2.75 to $2.80. Traders are largely ignoring the rising tensions in the Middle East, focusing instead on domestic demand factors. If natural gas prices fall below $2.75, the next support level is anticipated to be in the $2.50 to $2.55 range. The Relative Strength Index (RSI) indicates that there is potential for upward momentum if prices can break above the $2.90 level, which would lead to testing resistance at $3.00 to $3.05.
WTI Oil Market Dynamics
WTI oil prices are fluctuating as traders react to comments from U.S. President Trump regarding Iran. Trump has threatened significant military action if Iran does not agree to a deal, which has added to market uncertainty. Currently, WTI oil is trying to maintain levels above $112.00. If successful, it could test recent highs near $115.00, with further resistance at $118.50 to $119.00.
Brent Oil Market Insights
Brent oil is also attempting to settle above the resistance level of $108.50 to $109.00. Increased traffic through the Strait of Hormuz has been reported, with more countries securing safe-passage agreements with Iran. If Brent oil can settle above $110.00, it may move towards the resistance range of $118.50 to $119.00, which has proven to be a strong barrier in the past.
Conclusion
The current market for natural gas and oil is heavily influenced by geopolitical tensions, particularly regarding Iran. Traders are closely monitoring developments, as any escalation could significantly impact prices. The outlook remains uncertain, with potential for both upward and downward movements depending on how the situation unfolds.
About the Author
Vladimir Zernov is an independent trader with over 18 years of experience in the financial markets, specializing in a wide range of instruments including stocks, futures, forex, indices, and commodities.