Coquest

Your Daily Energy Report for January 14, 2026

Posted on 2026-01-14

Crude Oil

Crude Oil futures for February settled up $.90 or 1.472% at $62.05. Oil prices rose this Wednesday, extending a five-day rally to reach price levels not seen since early October. This surge is primarily fueled by mounting geopolitical risks, specifically the deepening unrest in Iran and reports of military precautionary measures at a Qatar air base. President Trump has publicly backed the Iranian protesters, indicating that future US action will be dictated by the evolving situation on the ground as national security teams finalize their options. The primary market fear is a sudden disruption to Iran’s 3.3 million barrels per day of production, which would severely tighten global supply at a critical juncture. While latest EIA data revealed a climb in US crude stocks and gasoline inventories, the bullish momentum remained intact, supported by a drawdown in distillate stockpiles.

​​​​​Natural Gas

Natural Gas futures for February settled down -$.299 or -8.745% at $3.120. Natural gas prices plummeted today, to levels not seen since October. This sharp decline was primarily ignited by a slump in LNG feedgas intake, which hit a preliminary two-month low of 17.4 bcfd following throughput issues at Corpus Christi and Freeport LNG. Although deliveries to Freeport LNG showed signs of recovery to 1.4 bcfd from Tuesday's dismal levels, the facility is still operating significantly below its maximum processing potential. These export bottlenecks currently outweigh a bullish turn in the weather, as projections for colder-than-normal temperatures through January 29 point toward an eventual surge in heating needs. Meanwhile, the supply side remains relatively tight as domestic production has moderated to 109.3 bcfd, yet this has failed to stabilize prices against the immediate loss of export demand.
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