Coquest

Your Daily Energy Report for February 12, 2026

Posted on 2026-02-12

Crude Oil

Crude Oil futures for March settled down -$1.59 or -2.468% at $62.84. Oil prices pulled back this Thursday, effectively erasing the prior session’s marginal gains. Even with the U.S. Navy positioning assets near Iran to keep tactical choices available during nuclear talks, the persistent shadow of oversupply continues to stifle upward momentum. Market sentiment remains tethered to the IEA’s recent analysis, which highlights that global stockpiles expanded at their most aggressive rate since 2020. This trajectory suggests a massive surplus will likely define the 2026 landscape as production levels outpace consumption. Furthermore, the stabilization of Venezuela’s exports, particularly those shifting toward China, has reinforced the bearish outlook for those monitoring global inventory builds.

​​​​​Natural Gas

Natural Gas futures for March settled up $.058 or 1.836% at $3.217. Natural gas prices climbed today, buoyed by a relentless appetite for LNG exports and a sequence of substantial inventory depletions. Domestic utility providers pulled 249 billion cubic feet from reserves during the week ending February 6, a move sparked by an intense Arctic chill that followed a historic 360 bcf reduction the week prior. While this latest storage withdrawal marginally trailed analyst projections, it dwarfed both the prior year's activity and the 146 bcf five-year average. Despite domestic output ticking upward to 107.6 bcfd, total LNG demand held steady at a near-record 18.5 bcfd across primary terminals. However, emerging weather forecasts indicating a pivot toward unseasonably mild temperatures through the end of the month may soon dampen heating requirements and soften recent valuations.
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