Coquest

Your Daily Energy Report for January 26, 2026

Posted on 2026-01-26

Crude Oil

Crude Oil futures for March settled down -$.44 or -.72% at $60.63. Oil prices retreated this Monday as investors balanced aggressive geopolitical positioning against shifting supply dynamics. While the arrival of a US aircraft carrier strike group in the Middle East continues to signal potential friction with Iran, the immediate risk to regional energy conduits was partially offset by reports that Kazakh oil exports are stabilizing following the repair of a critical offshore mooring site. Trade volatility also took center stage after President Trump issued a 100% tariff ultimatum to Canada over a rumored Beijing partnership, though Prime Minister Carney quickly moved to de-escalate by clarifying that Ottawa’s recent trade adjustments were limited to specific sectors and not a broad strategic pivot. On the domestic front, a historic US winter storm has provided a sturdy price floor by triggering a surge in heating requirements across the Northeast.

​​​​​Natural Gas

Natural Gas futures for February settled up $1.525 or 28.91% at $6.80. Natural gas prices rocketed today, reaching a price ceiling not seen since late 2022 as a catastrophic polar vortex crippled the nation's energy infrastructure. This latest spike caps a relentless 90% rally over the last seven days, fueled by a historic freeze-off event that slashed nearly 17 Bcfd of output from major basins in Texas and Louisiana. With daily production cratering to a two-year low of 92.6 bcfd, the market is grappling with a simultaneous collapse in supply and a vertical climb in residential heating and electricity requirements. The strain has been so severe that LNG feedgas deliveries have plummeted to a one-year low, as domestic grid operators prioritize local reliability over global exports during the record-breaking cold.
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