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- Daily Energy Market Update August 14, 2026
A tanker attempting to leave the Persian Gulf sustained minor damage from a UAV, according to a U.K. naval agency. The vessel was not identified and no responsibility was assigned. The incident adds to the disruption already affecting traffic through the Strait of Hormuz.
Brent is around $88/bbl and up more than 5% for the week. Treasury Secretary Scott Bessent said the U.S. will announce new financial measures against Iran next week, while Washington has said its naval blockade of Iranian oil exports could continue indefinitely.
U.S. gasoline prices remain above $4/gal, while Vice President JD Vance said keeping oil and gas prices low is the administration's top priority.
Russia is also facing refinery disruptions from Ukrainian drone attacks. Rystad expects Russian crude production to average 8.6 million b/d next year versus 8.95 million b/d in 2026.
For traders, the key overnight developments are the tanker attack, continued pressure on Hormuz flows, and the prospect of further U.S. measures against Iran.
Crude (CL1)
Crude initially rallied overnight to $82.99 before trading back to near unchanged at $81.54 this morning at 7:00 a.m. Today marks the fifth consecutive day that price has traded around the 20-day moving average, while remaining between the 20-day and 50-day moving averages.
Momentum did not quite reach oversold before crossing over and turning higher this week. The momentum crossover could indicate that the next move may be a retest of the upper end of the recent range near $90.00.
Key Levels
$82.47 — 20-day moving average
$88.88 — 100-day moving average
$90.69 — Upper Bollinger Band
Support
$79.53 — 50-day moving average
$77.09 — 200-day moving average
$74.24 — Lower Bollinger Band
Crude (CL1)
Heating Oil (HOV6)
Heating oil is also opening near unchanged at $4.1145 this morning after initially rallying overnight. The move to a new weekly high above the July 23 high of $4.1400 created a bearish divergence, with momentum failing to confirm the strength of the move. Watch for a potential weekly close below the July high, which could act as a pivot and open the door to a correction toward the 20-day moving average at $3.9409.
Momentum has moved slightly back into overbought territory, with the Stochastic at 76, but remains well below the July reading of 96.
Key Levels
Resistance
$4.1400 — July high / pivot
$4.1881 — Wednesday's high
$4.2347 — Upper Bollinger Band
Support
$3.9412 — 20-day moving average
$3.6475 — Lower Bollinger Band
$3.5922 — August low
Heating Oil (HOV6)
Crude Spread (CLZ6/CLZ7)
The crude spread is coming into the U.S. session down $0.07 at $7.41 after rallying overnight to a high of $7.98 before moving back toward unchanged. Price has spent the week holding onto most of the gains from Monday's rally. The 20-day moving average has acted as support after price bounced off $7.09 yesterday, completing five consecutive closes above the key pivot.
Momentum has crossed higher in the neutral zone.
Key Levels
Resistance
$8.88 — Tuesday's high
$9.61 — Upper Bollinger Band
Support
$7.09 — 20-day moving average
$6.06 — 100-day moving average
$5.44 — 50-day moving average
Crude Spread (CLZ6/CLZ7)
Natural Gas Market Overview
Natural Gas (NGV26)
Natural gas is up $0.023 overnight, coming into the day at $2.808. Price continues to consolidate after the gap higher to start the week, holding onto most of Monday's gains while posting its fifth consecutive day trading around the 20-day moving average at $2.804.
Momentum has started to move out of oversold territory and continues to point higher, suggesting the next move could be toward the upper Bollinger Band at $2.956.
Key Levels
Resistance
$2.887 — Wednesday's high
$2.956 — Upper Bollinger Band
$3.009 — 50-day moving average
Support
$2.742 — Monday's gap
$2.673 — Lower Bollinger Band
$2.668 — Double bottom from last week
Natural Gas (NGV26)
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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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