Coquest

Your Daily Energy Report for March 11, 2026

Posted on 2026-03-11

Crude Oil

Crude Oil futures for April settled up $3.80 or 4.554% at $87.25. Oil prices jumped this Wednesday, as a monumental mobilization of strategic petroleum reserves by the International Energy Agency failed to counter ebbing optimism for a swift cessation of hostilities. The Middle Eastern crisis intensified following a series of strikes on merchant ships navigating the waters near the Iranian coastline. Tehran informed regional intermediaries that a truce is only possible if the United States provides a guarantee of non-aggression against their territory, a demand that Washington appears unlikely to satisfy. Meanwhile, Donald Trump asserted in a brief discussion that the engagement would conclude "soon" due to a lack of remaining strategic assets to neutralize. Despite this rhetoric, the IEA finalized its record-breaking deployment of backup supplies, confirming that member nations will collectively inject 400 million barrels into the global market.

​​​​​Natural Gas

Natural Gas futures for April settled up $.189 or 6.258% at $3.209. Natural gas rose today, mirroring the upward momentum of crude as the market reacted to the IEA’s proposal for a deployment of strategic petroleum reserves. Even with this intervention, market anxiety remains high due to the continued closure of the Strait of Hormuz and the planet's primary LNG export terminal remaining out of commission. Nevertheless, American pricing has stayed notably shielded compared to international peers, bolstered by robust internal production and a logistical ceiling as export capacity hits its maximum threshold. Furthermore, projections for unseasonably mild temperatures throughout the U.S. until the end of March are anticipated to stifle heating consumption, providing an additional headwind for prices.
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