Coquest

Your Daily Energy Report for February 10, 2026

Posted on 2026-02-10

Crude Oil

Crude Oil futures for March settled down -$.40 or -.622% at $63.96. Oil prices dropped this Tuesday, as investors balanced hopeful Oman diplomacy against new shipping safety alerts in the Strait of Hormuz. While last Friday’s sessions were characterized as a "good start," the U.S. Maritime Administration just issued a firm warning for American-flagged vessels to steer clear of Iranian waters, reigniting fears of tanker seizures. This geopolitical friction is further complicated by a massive energy realignment, where a new Washington - New Delhi trade pact has effectively frozen Russian crude imports to India in exchange for tariff relief. Market participants are now weighing whether this shift in global oil flows will tighten supply enough to offset the current deadlock over uranium enrichment limits. Consequently, the risk premium remains high, as the prospect of a sudden drop in Russian barrels to the East threatens to send prices higher despite the ongoing talks.

​​​​​Natural Gas

Natural Gas futures for March settled down -$.023 or -.733% at $3.115. Natural gas prices finished the day in the red, as the weight of surging Lower 48 output near 107.4 bcfd overwhelmed early gains. The market initially found a floor at $3.17 per MMBtu due to average gas flows to LNG export plants hitting a staggering 18.5 bcfd, but these record-matching demand levels failed to sustain a breakout. Although a historic 360 bcf storage withdrawal recently pushed inventories below the five-year norm, traders shifted their focus to a warmer weather outlook that threatens to erode the current storage deficit by March. The bearish close reflects a growing consensus that robust production and high inventory levels will easily offset the uptick in LNG demand as the winter season winds down.
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