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Your Daily Energy Report for July 1, 2026
Posted on 2026-07-01
Crude Oil
Crude Oil futures for August settled down -$.92 or -1.324% at $68.58. Oil prices fell on Wednesday as market participants evaluated ongoing US–Iran peace negotiations and a gradual recovery in shipping through the crucial Strait of Hormuz. US negotiators Jared Kushner and Steve Witkoff conducted constructive talks in Qatar, with an administration official noting that technical discussions with Iran are advancing through indirect efforts to lower tensions over the waterway connecting Persian Gulf producers to global markets.
Natural Gas
Natural Gas futures for August settled down -$.055 or -1.679% at $3.220. Natural gas prices dipped today U.S. natural gas futures are stuck in a range as this week’s hot weather lifts cooling demand, while abundant production and inventories keep a lid on gains. Weekly storage data due tomorrow from the EIA are expected to show an increase in the surplus over the five-year average.
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