Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Gain Ground Amid Signs Of Problems In U.S. – Iran Talks

• WTI oil rebounded from support at $70.50-$71.00 and is attempting to settle above $72.00, targeting resistance at $76.50-$77.00 if momentum continues
• Brent crude is testing the $75.00 level after falling to pre-war lows, with potential to reach $80.00 if it breaks through resistance at $77.00-$77.50
• Natural gas rose toward $3.30 on bullish weather forecasts showing warmer conditions by end of June, though the market has been choppy and needs stronger catalysts for sustained gains

Market Summary: Energy Markets Rally on U.S.-Iran Negotiation Concerns

Key Market Movements

Energy markets gained ground on June 25, 2026, with WTI crude oil up 3.11% and Brent crude up 3.21%, while natural gas declined 0.73%. Oil markets rebounded from multi-month lows as traders bought the dip amid growing concerns about U.S.-Iran negotiations.

U.S.-Iran Tensions

Diplomatic tensions emerged as key market drivers. U.S. Secretary of State Marco Rubio declared tolls in the Strait of Hormuz "unacceptable" under any deal conditions. Iran's Parliament speaker Ghalibaf rejected claims that unfrozen funds would purchase U.S. goods, citing "decades of mistrust." Analysts note that discussions have moved away from Iran's nuclear program—the original catalyst for military action—suggesting a near-term deal is unrealistic.

Technical Levels and Outlook

WTI crude rebounded from support at $70.50-$71.00, attempting to settle above $72.00. Upside targets sit at $76.50-$77.00, with downside risk at $66.50-$67.00 if support breaks.

Brent crude is attempting to hold above $75.00, with resistance at $77.00-$77.50 and psychological resistance at $80.00. RSI indicators suggest room for additional upside momentum.

Natural gas tested $3.30 on bullish weather forecasts showing warmer temperatures through late June. The commodity needs stronger catalysts for sustainable gains after choppy June trading.

Market Implications

Despite the rally, Gulf producers are rushing to sell oil as Strait of Hormuz traffic increases, suggesting markets will require major catalysts for sustained upward momentum. The rebound primarily reflects dip-buying rather than fundamental shifts in supply-demand dynamics.