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- Daily Energy Market Update April 9, 2026
April 9, 2026
Liquidity’s Daily Market Overview
Oil prices climbed 3% on Thursday as uncertainty surrounding a fragile two-week Middle East ceasefire fueled concerns about continued disruptions to energy flows through the critical Strait of Hormuz.
Susannah Streeter, chief investment strategist at Wealth Club, warned that even if shipments resume, risks will persist. Tankers may still need to navigate mined waters and heightened military activity, keeping insurance premiums and freight costs elevated.
Doubts over the ceasefire intensified after continued Israeli strikes on Lebanon on Wednesday, prompting Iran to call it “unreasonable” to move forward with negotiations on a permanent peace agreement. U.S. President Donald Trump reiterated plans to maintain a military presence in the Persian Gulf ahead of upcoming talks with Iran aimed at stabilizing the truce.
The Strait of Hormuz remains effectively closed, as shipping companies await clarity on security conditions. Both sides have accused each other of violating the ceasefire announced Tuesday, with disagreements emerging over whether it applies to Israel’s operations against Hezbollah in Lebanon.
Energy infrastructure across the region remains at risk. Iran has reportedly targeted sites in neighboring countries post-ceasefire, including a Saudi Arabian pipeline used to bypass the Strait of Hormuz, according to industry sources.
Amid these developments, Goldman Sachs lowered its second-quarter 2026 oil price forecasts, projecting Brent crude at $90 per barrel and U.S. crude at $87. This marks a reduction from earlier estimates of $99 for Brent and $91 for West Texas Intermediate.
Energy Market Technicals
Crude (CL1)
Momentum is overbought in Crude and crossed down. The rally off the post ceasefire low bought price back to the 20 day moving average at 99.50.
Key level to watch on this bounce are:
- 101.20 38.2% Fibonacci
- 104.34 50% Fibonacci
- 107.48 61.8% Fibonacci
Brent (CO1)
Brent has worked out some of the over bought momentum and the rally off the post ceasefire low has been less significant that crude’s rally. Support sits at the lower Bollinger Band at 94.14.
Levels to watch if the rally continues:
- 101.42 38.2% Fibonacci
- 104.82 50% Fibonacci
- 108.22 61.8% Fibonacci
RB (XB1)
Brent has work RB momentum has crossed down and is moving out of overbought territory. Support comes in at the lower Bollinger Band 291.44.
Key resistance levels if the bounce continues:
- 308.26 38.2% Fibonacci
- 314.30 50% Fibonacci
- 320.35 61.8% Fibonacci
ULSD (HOK6)
ULSD (HOK6) bounce off the lows has moved back to the 20 day moving average at 405.27. Momentum is still in overbought territory but crossed down. Support comes in at yesterday’s low and the lower Bollinger Band at 357-359 zone.
Natural Gas Market Overview
Natural gas markets are staying cautious as uncertainty lingers around the Middle East ceasefire. While the truce has eased some immediate tensions, key LNG infrastructure in the region still faces disruptions, and shipping routes remain tight. Some production is starting back up, but a full return to normal supply is likely to take time, keeping prices a bit shaky.
On the demand side, seasonal factors and mild weather are softening consumption, but strong LNG exports from other areas are helping support prices. Overall, natural gas is stuck between ongoing supply concerns and weaker demand, with traders closely watching how the situation develops on both fronts.
Nat Gas (NGK26)
Natural gas is trading near unchanged from yesterday’s close. Momentum remains in deeply oversold territory but has begun to turn higher. Price is holding just above the lower Bollinger Band. A break below yesterday’s low of $2.70 could trigger further selling, but with momentum stretched, a near-term bounce from the current $2.71 level remains possible.
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Disclaimer
This article and its contents are provided for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any commodity, futures contract, option contract, or other transaction. Although any statements of fact have been obtained from and are based on sources that the Firm believes to be reliable, we do not guarantee their accuracy, and any such information may be incomplete or condensed.
Commodity trading involves risks, and you should fully understand those risks prior to trading. Liquidity Energy LLC and its affiliates assume no liability for the use of any information contained herein. Neither the information nor any opinion expressed shall be construed as an offer to buy or sell any futures or options on futures contracts. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. Any opinions expressed herein are subject to change without notice, are that of the individual, and not necessarily the opinion of Liquidity Energy LLC
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