FX.co ★ Natural Gas (NG)

Due to a warmer-than-expected spring and lower risk in the area for liquefied natural gas shipping routes from the Gulf, natural gas prices were also moderated, with storage in the United States and Europe expanding comfortably. The demand for LNG in Japan, South Korea, and India is still high and is probably going to continue, even though spot gas is less of an issue in the West. In the immediate future, investors anticipate more U.S. production reports and OPEC+ advice. Although many risk premiums should be eliminated by the present Middle East armistice, oil markets are susceptible to abrupt changes in the political stability of the region. On the 2H NYMEX chart, natural gas futures are trading around $3.161 after the red candle tested the red MA at $3.20 inside a blue ascending channel. Based on buyer absorption, bullish higher lows protected the $2.978 swing. Neutral momentum is indicated by an RSI close to 52. $3.10 is shown as a pivot level in a volume profile. A Fib extension between $3.195 and $3.256 is the next obstacle. Since the market is currently riding the clean, blue up-channel, it has a bullish structure over $3.10. Crude oil was returning to traditional supply and demand dynamics once the geopolitical risk was largely erased. As American production approaches its peak, WTI and Brent have both shifted towards balance, OPEC+ is maintaining production levels, and non-OPEC supply from Brazil, Guyana, and Canada keeps increasing. Progress is being made, and demand has slightly increased, particularly in Asia, even though full restoration of Iranian and regional production is still ongoing. Global demand growth is expected to remain muted in 2026 due to high interest rates and continued Western spending constraints.