Coquest

Your Daily Energy Report for January 15, 2026

Posted on 2026-01-15

Crude Oil

Crude Oil futures for February settled down -$2.86 or -4.609% at $59.19. Oil prices had a significant drop on Thursday. The bearish turn followed statements from President Donald Trump regarding assurances from Iranian authorities that violence against protesters would cease, effectively cooling the prospects for a direct military conflict and production interference. This shift in sentiment occurred just twenty-four hours after the market anticipated potential hostilities, spurred by Iran closing its sky and rumors of American military repositioning in the area. With the threat level falling, the substantial geopolitical risk premium that had recently bolstered prices dissipated quickly, leaving the market to focus on underlying supply metrics. Earlier bullishness had been supported by instability within OPEC members like Venezuela and Iran, alongside disrupted Kazakh exports in the Black Sea due to drone strikes and harsh weather, though Trump suggested Caracas should maintain its seat in the petroleum cartel.

​​​​​Natural Gas

Natural Gas futures for February settled up $.008 or .256% at $3.128. Natural gas prices experienced a sharp intraday reversal today, initially plummeting to a 13-week low before staging a late-session recovery to finish the day up. The early morning sell-off was driven by storage data revealing a withdrawal of only 71 bcf, a lackluster result that fell significantly short of market expectations, last year’s draw, and the five-year average. Sentiment shifted mid-day as LNG feedgas flows began to rebound from a recent slump in deliveries to LNG export plants, providing a much-needed demand floor. While overall production remains historically elevated near record highs, the market is currently balancing this ample supply against forecasts for colder-than-normal weather through the end of January.
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