Coquest

Your Daily Energy Report for March 9, 2026

Posted on 2026-03-09

Crude Oil

Crude Oil futures for April settled up $3.87 or 4.257% at $94.77. Oil prices settled higher on Monday, despite a volatile session that saw prices collapse toward $87 per barrel after peaking at a historic $120/bbl. This late-afternoon retreat from 2022 highs followed a joint declaration from G7 finance ministers stating the coalition "stands ready" to mobilize strategic reserves to stabilize the market. Momentum further shifted as President Trump characterized the conflict with Iran as a short-term engagement, dampening expectations for a massive, permanent economic fallout ahead of his Monday evening news conference. The earlier surge was fueled by a logistical crisis in the Strait of Hormuz, forcing heavyweight exporters like Saudi Arabia, the UAE, Kuwait, and Iraq to slash output as their storage capacities reached their limits. While the day ended in the green, the massive swing between its intraday zenith and the final bell highlights the extreme sensitivity of global energy commerce to shifting geopolitical rhetoric.

​​​​​Natural Gas

Natural Gas futures for April settled down -$.066 or -2.072% at $3.120. Natural gas prices retreated today as optimism for a rapid regional de-escalation drained the risk premium from the energy sector. While global indices stayed high amid the QatarEnergy force majeure, the Henry Hub faced downward pressure after President Trump hinted at an imminent conclusion to the Iranian struggle and a reopening of the Strait of Hormuz. This bearish turn amplified a sell-off already catalyzed by unseasonably mild climate outlooks and unprecedented domestic production figures. Simultaneously, persistent technical failures at the Freeport LNG terminal in Texas are keeping excess inventory stranded within the U.S., insulating local costs from international shortages.
​​​​
Continue reading the full Coquest Daily Report.

---