Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As Trump Says U.S. Will Raise Tariffs On India's Goods

Natural gas is testing new lows amid moderate demand, with key support levels at $3.00-$3.05 and potentially $2.70-$2.75. WTI oil is losing ground following President Trump's tariff threat on India for Russian oil purchases, with traders anticipating economic damage and eyeing support at $66.00-$66.50, then $60.00-$60.50. Brent oil also declined due to a broad market pullback and a reduced geopolitical premium, with a move below $67.50 opening further downside to $63.50-$64.00.

Analysis

A bearish sentiment is currently dominating key energy commodity markets, driven by a combination of fundamental, geopolitical, and technical factors. Natural gas is testing new lows, primarily due to moderate demand, with the critical support level identified at the $3.00–$3.05 range; a failure to hold this level would signal a potential move towards the next support at $2.70–$2.75. In the oil markets, WTI is declining following a statement from President Donald Trump threatening tariffs on India for its purchases of Russian oil. Market participants appear to be discounting the likelihood of India altering its procurement and are instead focused on the potential economic damage from such tariffs, putting pressure on the $66.00–$66.50 support level. Similarly, Brent crude is experiencing a pullback amid a broader market downturn and a diminishing geopolitical risk premium, with a break below $67.50 seen as a catalyst for a further decline towards the $63.50–$64.00 support area.

Key Decisions for Investors

• Investors should closely monitor the specified technical support levels for Natural Gas ($3.00-$3.05), WTI ($66.00-$66.50), and Brent ($67.50), as a breach in any of these could signal an acceleration of the current bearish trend.
• The primary driver for oil's weakness is geopolitical risk tied to potential U.S. tariffs on India, so positions should be managed with a view that the market is currently pricing in economic fallout rather than a change in Russian oil trade flows.
• For natural gas, the combination of weak fundamentals and price pressure suggests that a confirmed break below the $3.00 support level could present a tactical opportunity for initiating or adding to short positions.