Energy Markets Daily

Monday, August 31, 2026. WEEK 35 OPENS. CRUDE OIL UPDATE: August 28, 2026 $83.40 (open ~$83.67, high ~$83.78, low ~$82.25; volume ~142K). August 29, 2026 No trading data available (weekend/non-trading day; markets typically closed). August 30, 2026 $84.81 (open ~$84.60, high ~$85.68, low ~$84.60). August 31, 2026 Limited or no finalized settlement data available yet (current/recent trading day as of Aug 31; intraday or spot quotes around ~$84-85 in some feeds, but not confirmed daily close in historical tables). Notes These are primarily front-month futures settlement prices, standard benchmark for WTI crude oil quotes; spot prices (e.g., Cushing, OK) may vary slightly and often reported with lag. Context Weekend dates (e.g., Aug 29) have no futures trading; Aug 31 data may update later once markets close. NATURAL GAS UPDATE: August 28, 2026 Futures/continuous contract (NG00) settlement/close of $2.888 (daily range: open ~$2.906, high $2.932, low $2.836). August 29-31, 2026 No official EIA spot prices yet available in search results (lagged release); Markets Insider reported Henry Hub indication/price of ~$2.87 as of Aug 30 (with nearby snapshots showing values around 2.87-2.89). Recent prior EIA spot prices (for context, as of latest release) Aug 25 2.70, Aug 24 2.83, Aug 21 2.82. Notes Reflect standard Henry Hub benchmarks (spot or front-month futures/settlements); prices can vary slightly by source (spot vs. futures) and subject to market movements. STRAIT OF HORMUZ SHIPPING: Overall status (Aug 31 reports) Effectively closed to normal commercial traffic; 7-day average arrivals ~5/day (~7% of pre-crisis ~74/day per IMF PortWatch); war-risk insurance premiums remained extremely high (e.g., multiples of normal), deterring most operators; Brent crude ~$90.17. Weekend traffic (reported Aug 31) Visible commodity vessel transits dropped to ~5 per day over weekend (Kpler/Reuters data); limited to small-sized vessels; figures could be higher due to AIS-off transits. Aug 28 reports (covering recent prior days) ~7 commodity vessels transited on one day (e.g., Thursday data reported Aug 28), below 10-day average of ~15; mix included medium-range tankers, VLGC, and chemical tankers (Kpler). Live tracker examples (Aug 30-31 crossings) Specific recent transits included outbound crude/product tankers such as SAVONA (small crude, ~0.03M bbl est.), KIKU (VLCC/ULCC, ~2.10M bbl est.), MIRAAN (crude tanker, ~0.26M bbl), ELMO (product/chem tanker, ~0.33M bbl); inbound VLCCs and others noted; total 24h crossings low (~14-15 visible, mixed types). Tanker-specific flows Minimal crude oil exports; US CENTCOM and other reports indicated zero Iranian crude tankers breaking blockade lines in period (some LPG/product tankers with dark patterns departed); many tankers loitering or in floating storage nearby. Incidents near dates Kuwaiti-flagged tanker AL SALAM II struck (above waterline) eastbound ~Aug 26; additional projectile strikes reported ~Aug 25-26 period; US strikes on Iranian rocket launchers/targets on/near Larak Island in strait ~Aug 30-31. Broader context (UKMTO/Windward/etc.) AIS-detected transits ~90% below pre-conflict baselines; preference for northern routes or dark transits; hundreds of vessels stranded/loitering in/near Gulf. IMF PortWatch lag Latest published detailed daily data around Aug 23 showed only 3 transits (1 tanker, 2 cargo); Aug 28-31 figures pending but consistent with ~5/day 7-day average. Vessel/anchorage snapshot Dozens to over 1,000 vessels indexed in broader area (many anchored); few actively transiting; tankers formed notable but reduced share of movements. Market impact Sustained low flows contributed to elevated oil prices (~$90 Brent); bypass pipelines (e.g., Saudi, UAE) operating at high utilization where possible. Context Roughly day 183-184 since Feb. 28, 2026, closure; visible (AIS-detected) transits remained at historic lows of around 5 or fewer vessels per day—roughly 4-7% of pre-crisis levels of ~70-85+ daily. THE READ: Crude Aug 28 $83.40, open $83.67, high $83.78, low $82.25, volume 142K; Aug 29 no trading, weekend/non-trading day, markets closed; Aug 30 $84.81, open $84.60, high $85.68, low $84.60; Aug 31 limited/no finalized settlement, current/recent trading day, intraday/spot ~$84-85, not confirmed daily close; front-month futures settlement prices, standard WTI benchmark, spot prices Cushing OK may vary slightly, often reported with lag; weekend dates no futures trading, Aug 31 data may update later once markets close. Gas Aug 28 futures/continuous NG00 settlement/close $2.888, daily range open ~$2.906, high $2.932, low $2.836; Aug 29-31 no official EIA spot prices yet available, lagged release, Markets Insider reported Henry Hub indication/price ~$2.87 as of Aug 30, nearby snapshots ~2.87-2.89; recent prior EIA spot prices context latest release Aug 25 2.70, Aug 24 2.83, Aug 21 2.82; standard Henry Hub benchmarks spot or front-month futures/settlements, prices vary slightly by source spot vs. futures, subject to market movements. Hormuz Overall status Aug 31 reports effectively closed normal commercial traffic, 7-day average arrivals ~5/day ~7% pre-crisis ~74/day IMF PortWatch, war-risk insurance premiums extremely high multiples normal, deterring most operators, Brent crude ~$90.17; weekend traffic reported Aug 31 visible commodity vessel transits dropped ~5/day over weekend Kpler/Reuters data, limited small-sized vessels, figures could be higher AIS-off transits; Aug 28 reports covering recent prior days ~7 commodity vessels transited one day Thursday data reported Aug 28, below 10-day average ~15, mix medium-range tankers VLGC chemical tankers Kpler; live tracker examples Aug 30-31 crossings specific recent transits outbound crude/product tankers SAVONA small crude ~0.03M bbl est., KIKU VLCC/ULCC ~2.10M bbl est., MIRAAN crude tanker ~0.26M bbl, ELMO product/chem tanker ~0.33M bbl, inbound VLCCs and others noted, total 24h crossings low ~14-15 visible mixed types; tanker-specific flows minimal crude oil exports, US CENTCOM and other reports zero Iranian crude tankers breaking blockade lines period, some LPG/product tankers dark patterns departed, many tankers loitering or floating storage nearby; incidents near dates Kuwaiti-flagged tanker AL SALAM II struck above waterline eastbound ~Aug 26, additional projectile strikes reported ~Aug 25-26 period, US strikes Iranian rocket launchers/targets on/near Larak Island strait ~Aug 30-31; broader context UKMTO/Windward etc. AIS-detected transits ~90% below pre-conflict baselines, preference northern routes or dark transits, hundreds vessels stranded/loitering in/near Gulf; IMF PortWatch lag latest published detailed daily data around Aug 23 showed only 3 transits 1 tanker 2 cargo, Aug 28-31 figures pending but consistent ~5/day 7-day average; vessel/anchorage snapshot dozens to over 1,000 vessels indexed broader area many anchored, few actively transiting, tankers formed notable but reduced share movements; market impact sustained low flows contributed elevated oil prices ~$90 Brent, bypass pipelines Saudi UAE operating high utilization where possible; context roughly day 183-184 since Feb 28 2026 closure, visible AIS-detected transits remained historic lows around 5 or fewer vessels per day, roughly 4-7% pre-crisis levels ~70-85+ daily. 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