The WTI prompt-month contract rose $1.11 to $100.75/bbl on Monday morning (7:36 AM CT)
President Donald Trump signaled he may reach an agreement to end hostilities, even as the Pentagon weighs potential ground operations
He also renewed warnings targeting Iran’s energy infrastructure, including the key Kharg Island export terminal, should negotiations fail to progress
The Strait of Hormuz remains largely shut, with limited successful transits, while Houthi involvement in Yemen raises risks to Red Sea flows and deepens broader supply disruptions
Iran is moving toward implementing a transit toll, requiring vessels to disclose cargo and voyage details while paying fees, reinforcing its control over traffic; Tehran has also made sovereignty over the waterway a central condition in its peace proposal to the US
Analysts at JPMorgan warn that sustained disruptions could trigger a cascading supply shock moving east to west, with broader global impacts expected to intensify into April
Natural gas trades down on contract roll to the May prompt contract
Natural gas is down -12.2c to $2.903/MMBtu (As of 07:36 AM CT)
On Friday, there was some cooling in the weather forecast, but that was more than offset by temperature gains in this morning’s forecast
L48 temperatures rose around 19 °F, with significant gains in the Northeast, Midwest, Rockies, and West (Criterion)
Average temperatures are expected to be at or above the 10-year average for almost the whole forecast period
The supply-demand balance continues to loosen as we head into spring, as supply remains mostly stable, but weather-driven demand subsides
Cheniere’s Corpus LNG midscale train 5 pushes LNG flows to new highs
Corpus LNG hit a two-week high of 3.38 Bcf/d of feedgas demand thanks to the startup of train 5 (Criterion)
Train 5 is one of 7 units that are part of the stage 3 expansion, with the two remaining units expected to come online this year (S&P)
Cheniere’s production guidance for 2026 has stayed consistent, around 7 Bcf/d (Including Sabine Pass)
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