Coquest

Your Daily Energy Report for October 7, 2026

Posted on 2026-10-07

Crude Oil

Crude Oil futures for November settled down -$1.16 or -1.297% at $88.28. Oil prices fell on Wednesday as markets react to diminishing Middle Eastern supply risks. In response to unhindered tanker departures from the Persian Gulf, Saudi Arabia slashed official selling prices for its primary crude grade to a $5 discount against the regional benchmark, while expanding shipments from regional OPEC+ members coincided with reported diplomatic discussions involving US and Iranian representatives.

 

​​​​​Natural Gas

Natural Gas futures for November settled up $.089 or 2.858% at $3.203. Natural gas prices jumped today, advancing for a fourth straight trading session to touch a peak unseen since late September amid tightening supply, elevated LNG feedgas flows, and projections of heightened demand.

 

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