The WTI prompt-month contract gained $0.21 to $66.96/Bbl on Monday morning (7:39 AM CT)
Iranian Foreign Minister Abbas Aragchi said Sunday that a diplomatic resolution over Iran’s nuclear program remains possible, though he emphasized Tehran will not yield to pressure from the ongoing US military deployment
President Trump told reporters Friday that he is weighing the possibility of a limited strike on Iran following the largest US force buildup in the region since 2003
Fears of a broader Middle East confrontation, alongside multiple supply interruptions, have supported crude prices even as expectations for a global surplus persist
Average one-year charter rates for VLCCs have climbed above $92,000 per day, according to Clarkson Research Services Ltd., marking the highest levels in data stretching back to 1988
Goldman Sachs lifted its oil price outlook for late 2026, citing smaller-than-expected inventory builds across developed economies
The bank raised its WTI forecast to $56 from $50
Natural gas prompt month is up 3.7c to $3.084/MMBtu. (As of 07:54 AM CDT)
Weekend temperature came in cold compared to the 10-year average, as forecasted last week, with today being the coldest day of the short cold spell
Temperatures are forecasted to rebound to the 10-year average by midweek, with warming starting tomorrow (Criterion)
L48 temperatures fell -8.5 °F over the weekend, but the shift to near-normal temps throughout the forecast period is still in tact
There were large, sub -30 °F losses in the Midwest and Northeast that were almost completely offset by gains elsewhere in the L48 regions
US DOE orders the 4th retirement delay for Michigan coal plant (S&P)
The 1.41 GW JH Campbell power plant has been issued it’s 4th retirement delay by US Energy secretary Chris Wright as the Trump administration continues to support coal-fired electricity generation
Wright’s Feb 17th order cited a June 2025 survey conducted by MISO (Midcontinent Independent System Operator) on resource adequacy for 2026 and beyond
The survey projected 3.1 GW of additional capacity could be needed to meet MISO’s planning reserve margin for 2026, with further additional capacity needed further into the future
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