{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Energy Markets Daily","title":"Crude Breaks $70","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/b8bbaff9\"></iframe>","width":"100%","height":180,"duration":170,"description":"Thursday, June 25, 2026. CRUDE OIL UPDATE: WTI trading $69.20-$69.36 (down 1.4-1.7% from prior close ~$70.34). Daily range ~$69.01-$70.23. August 2026 contract ~$69.66. Recent performance down ~26% past month, still up ~6% YTD. PRIMARY DRIVER: Easing supply concerns as Strait of Hormuz shipping returns to normal, increasing crude flows, pressuring prices lower. Brent crude low-to-mid $72s (multi-month lows). Near-term levels four-to-five month lows, continued downward pressure. VOLATILITY NOTE: Significant retreat from 2026 highs tied to geopolitical supply risks. Markets pricing in improved supply availability. SETUP: Crude broken below $70. Support at $67.93. Below that $65.15. Resistance at $71.84. Above that $73.91. Fade trade complete. Mean reversion delivered. NATURAL GAS UPDATE: Most recent EIA report released Jun 18 for week ending Jun 12: Total working gas 2,759 Bcf. Weekly net change +73 Bcf injection. Year-ago (Jun 12, 2025) 2,788 Bcf (down 29 Bcf or -1.0%). 5-year average (2021-2025) 2,608 Bcf (up 151 Bcf or +5.8%). Within 5-year historical range. REGIONAL INJECTIONS: East +18, Midwest +28, Mountain +4, Pacific +5, South Central +16 Bcf. NEXT REPORT: Jun 25 at 10:30 AM ET for week ending Jun 19. Analyst forecasts ~68 Bcf injection. Prior week 73 Bcf below some expectations (80-82 Bcf), contributing to upward pressure on natural gas prices. DEAL STATUS: MOU signed ~Jun 15-17. Formal signing Jun 19, Switzerland. 60-day negotiation window for broader deal. KEY ELEMENTS: Iran diluting highly enriched uranium stockpiles. UN nuclear inspectors returning. Strait of Hormuz reopened to maritime traffic, no tolls. Sanctions relief, possible frozen assets release ($25-300B incentives/reconstruction). Working groups on oversight, sanctions, nuclear matters. STRAIT OF HORMUZ SHIPPING: Previously near zero daily transits during conflict. Partial reopening under MOU with fluctuating but generally increasing traffic. Projections rise toward 40-50% pre-war levels (~40...","thumbnail_url":"https://img.transistorcdn.com/U36G3q8LRcUNVnqsKxxoyD29VrpCUp_hS1pTIecj8QA/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9kNzMw/ZTFlZDQ2NTZmYTAw/YzVkZDJiYzQyNTQw/ODQ5MS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}