Natural Gas & Oil Prices Slip as OPEC+ Boosts Output amid Softening Demand

Global oil and gas markets are feeling the pinch as output from OPEC+ rises while demand slips. Oil prices slipped, erasing part of Monday’s gains, as production increases of around 137,000 barrels per day for December and weak consumption across major economies put mounting pressure on the market. Meanwhile, natural gas dropped roughly 2% to around $4.28, with a rising‑wedge technical pattern and falling RSI indicators hinting at a near‑term bearish reversal. For oil benchmarks, WTI Crude Oil edged near $59.87, capped under resistance around $60.50, with support at ~$58.85 and $57.40. Brent crude hovered near $63.86, stuck below the ~$64.10 Fibonacci resistance level and staying under both the 50‑ and 200‑day EMAs. With production pressures mounting and demand softening, the momentum appears tilted toward further weakness, unless a clear breakout emerges. #OilMarkets #NaturalGas #OPECplus #CommoditiesDrop #SlimScan #GrowthStocks #CANSLIM