Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Dives As U.S. And Iran Prepare To Sign A Deal

• President Trump announced the Strait of Hormuz would be completely open by Friday with toll-free passage, rejecting Iran's previous payment demands for ships
• WTI oil dropped to test the $81.00-$81.50 support level with potential downside toward $76.50-$77.00, while Brent oil tested $83.00 with next support at $81.00-$81.50
• Natural gas bucked the energy sector trend, rebounding toward $3.20-$3.25 resistance as traders focused on favorable weather forecasts and rising demand expectations

Market Summary: Oil Prices Plunge on U.S.-Iran Deal

Key Developments:

Oil markets experienced significant downward pressure on June 15, 2026, as the United States and Iran reached an interim agreement. WTI crude tested new lows below the $81.00-$81.50 support level, while Brent oil pulled back toward $83.00, down from the previous $86.00-$86.50 support level.

Deal Details:

The U.S. and Iran agreed to a 60-day interim ceasefire to facilitate comprehensive negotiations. Key provisions include reopening the Strait of Hormuz and lifting the naval blockade of Iranian ports. President Trump confirmed the Strait would be "completely open by Friday" with toll-free passage, blocking Iran's previous attempts to implement a payment system. Vice President JD Vance is expected to sign the memorandum of understanding in Switzerland on Friday.

Market Implications:

The agreement addresses immediate shipping concerns but notably excludes Iran's nuclear program—the original catalyst for military operations. Israel's ongoing operations against Hezbollah in Lebanon remain a potential obstacle, though markets are currently overlooking escalation risks.

Technical Levels:

• WTI Oil: Testing $81.00-$81.50 support; next target $76.50-$77.00
• Brent Oil: Attempting to break below $83.00; subsequent supports at $81.00-$81.50 and $77.00-$77.50
• Natural Gas: Rebounding on weather forecasts; up 2.92%, eyeing $3.20-$3.25 resistance

Analysts note RSI indicators remain in moderate territory, suggesting room for additional downward momentum if catalysts persist.