Coquest

Your Daily Energy Report for July 8, 2026

Posted on 2026-07-08

Crude Oil

Crude Oil futures for August settled up $3.08 or 4.373% at $73.52. Oil prices spiked on Wednesday due to severe Middle Eastern geopolitical escalations disrupting supply lines. This upward momentum followed President Trump's declaration that the regional ceasefire is over, which he accompanied with threats of a renewed maritime blockade and fresh military strikes against Iran.

 

Natural Gas

Natural Gas futures for August settled down -$.053 or -1.623% at $3.212. Natural gas prices slipped today fueled primarily by shifts in mid-month weather guidance, which indicated an influx of cooler air across the eastern half of the country that will depress utility-sector cooling degree days through July 15. 

 

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