Coquest

Your Daily Energy Report for March 27, 2026

Posted on 2026-03-27

Crude Oil

Crude Oil futures for May settled up $5.16 or 5.461% at $99.64. Oil prices continued to rally on Friday to a peak not seen since mid-2022. Although a ten-day extension was granted by President Trump for strikes against regional energy infrastructure, the move was undermined by the Pentagon’s simultaneous evaluation of a 10,000-troop surge to the theater. Adding to the volatility, the Islamic Revolutionary Guard Corps intensified its blockade by turning away international vessels and overseeing the grounding of the Thai-flagged Mayuree Naree near Larak Island. This continued strangulation of the Strait of Hormuz has paralyzed roughly 20% of the world's fuel transit, sustaining a 40% rally in WTI since the outbreak of hostilities. Consequently, market participants are left weighing the arrival of specialized shipping insurance programs against the growing probability of a full-scale ground intervention to secure the waterway.

​​​​​Natural Gas

Natural Gas futures for April settled up $.096 or 3.201% at $3.095. Natural gas prices jumped today as the persistent closure of the Strait of Hormuz has paralyzed roughly 20% of the world's liquid gas supply, forcing international buyers to pivot aggressively toward American exports. Despite the seasonal shift toward warmer-than-normal temperatures in the U.S., these traditional bearish factors are being overwhelmed by the massive "war premium" and the threat of a prolonged Middle Eastern conflict. Technically, the market is showing a bullish breakout as it reclaims key moving averages, with experts suggesting that any meaningful spike in oil past the $120 mark could trigger a secondary, even more intense surge in gas prices. Consequently, the geopolitical risk and shifting industrial requirements has redefined the bullish futures forecast for the remainder of 2026.
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