Welcome to Energy Markets Daily. Friday, January 16, 2026 — Weekly Recap. Week of Jan 12-16. **CRUDE OIL:** Wild week. WTI opened at $58.79, spiked to $62 mid-week on Iran tensions, now back to $59.22. Brent similar pattern—peaked near $66.50, back to $63.63. Geopolitical premium evaporated. Trump comments eased Iran strike fears. Venezuela resumed exports. EIA showed rising US crude and gasoline inventories. OPEC demand forecast 1.38 million bpd growth for 2026. IEA still divergent at 860K bpd. Supply forecasts: IEA 108.6 mb/d, OPEC 106.5 mb/d, EIA in between. Thesis confirmed: geopolitical spikes are selling opportunities. Surplus intact. **NATURAL GAS:** Henry Hub at $3.16, up from $3.12 mid-week. Futures slid 10% on reduced LNG flows. Feb contract at $3.12. Storage draw only 71 Bcf versus 146 Bcf 5-year average—warm weather impact. Working gas at 3,185 Bcf, 106 Bcf above 5-year average. But cold snap coming Jan 18-20, coldest days of the month. Enverus projects $3.80 winter average. 33 LNG vessels departed US ports last week. Thesis holds: weather volatility is noise. LNG structure intact. **NEXT WEEK CATALYSTS:** IEA Oil Market Report Jan 21. EIA Petroleum Jan 22. Cold snap Jan 18-20. **BOTTOM LINE:** Crude geopolitical fade confirmed. Gas weather dip loaded. Decoupling executes. **FINAL WORD:** Energy project needs capital? [email protected]. Subject: Energy Capital. This is Energy Markets Daily. Monday: Strategic Positioning.

Welcome to Energy Markets Daily. Wednesday, January 14, 2026 — Market Update. **CRUDE OIL:** WTI surged to $61.09, up 2.68%. Brent at $65.42, up 2.43%. Biggest daily pop in weeks. Geopolitical risk back in focus—US-Iran tensions and Venezuelan production slipping to 950,000 bpd from 1.1 million. OPEC+ Q1 freeze holds. Eight core members keeping output steady. IEA still projects 3.8 million bpd surplus for 2026. Non-OPEC supply relentless. EIA expects Brent to average $56 for the year. Rally is geopolitical, not fundamental. Surplus thesis intact. **NATURAL GAS:** Henry Hub holding $3.33. Colder forecasts for Jan 18-22 in eastern US, Jan 23-27 in Rockies and Midwest boosting sentiment. LNG flows to US terminals hit 20.4 bcf/d Monday. Total exports including Mexico at 24 bcf/d. Storage at 3,256 Bcf—123 bcf below last year but 31 bcf above 5-year average. Europe storage 55% full versus 70% seasonal average—bullish for US LNG demand. EIA $4.00 2026 average. **CATALYST WATCH:** Cold snap Jan 18-22. EIA petroleum delayed to Jan 22. IEA Oil Market Report Jan 21. **BOTTOM LINE:** Crude rallies on geopolitics but surplus looms. Gas cold forecasts support. Decoupling continues. Trade data over headlines. **FINAL WORD:** Energy project needs capital? [email protected]. Subject: Energy Capital. This is Energy Markets Daily. Thursday: Strategic Positioning.

Welcome to Energy Markets Daily. Tuesday, January 13, 2026 — Technicals. **CRUDE OIL TECHNICALS:** WTI trading near $58.80. Key support at $55.40, strong floor at $58.50. Resistance at 50-day EMA and downtrend line. Break above targets $60, then $62. RSI holding 35-45 range—no panic, room for recovery. MACD negative but histogram flattening—bearish momentum fading. Brent mirrors WTI. Support $58.50. Breakout targets $64-65. Position: Short bias holds. $55 WTI target intact. Rebound is technical, not fundamental. **NATURAL GAS TECHNICALS:** Henry Hub $3.33, up 5.12% on colder forecasts. Recovering from $3.11 low. Key pivot at $3.51. Bullish above $3.60—targets $3.70, then $3.81. Bearish below $3.51—downside $3.33, $3.21. Watch $3.50 inflection zone. Standard Chartered Q1 target $4.20, Q4 $4.50. EIA $4.00 2026 average. Position: Long gas. Weather volatility is noise. LNG structure and data center demand intact. **BOTTOM LINE:** Crude technicals show bearish momentum fading but fundamentals unchanged—surplus looms. Gas bouncing on cold forecasts—structure bullish. Trade the levels. **FINAL WORD:** Energy project needs capital? [email protected]. Subject: Energy Capital. This is Energy Markets Daily. Wednesday: Market Update.

Welcome to Energy Markets Daily. Monday, January 12, 2026 — Strategic Positioning. Week three of 2026. **CRUDE OIL:** WTI at $58.79, down 0.56%. Brent at $63.28, down 0.10%. Rebound holds $58 support. OPEC+ cuts extended through 2026—underproducing 1.3 million bpd. IEA projects 3.85 million bpd surplus. EIA Petroleum Status delayed to Jan 22 for MLK Day. **NATURAL GAS:** Henry Hub $3.11, recovering from $2.82 low. Feb futures $3.525. Mild weather through Jan 23 caps demand. Storage 3,256 Bcf, 1% above 5-year average. LNG exports 18.5 bcf/d near record. EIA projects $4.20 for 2026. Weather dip is the buy. **CATALYST WATCH:** EIA Jan 22. Late Jan cold potential. OPEC+ May 28 ministerial. **BOTTOM LINE:** Crude surplus looms. Gas oversold, LNG structure holds. Trade the decoupling. **FINAL WORD:** Energy project needs capital? We connect to institutional/family office networks. [email protected]. Subject: Energy Capital. This is Energy Markets Daily. Tuesday: Technicals.

Welcome to Energy Markets Daily. Friday, January 9, 2026 — Weekly Recap. Week of Jan 5-9: Thesis sharpened. **CRUDE OIL:** WTI closed $58.04 (+0.49% Jan 9), Brent $62.37 (+0.62%). Rebound from $57 lows. EIA crude -3.8M bbl wk end Jan 2 (beat +0.45M exp). OPEC+ Q1 freeze firm, underproduce 1.3M bpd. IEA 3.8M surplus '26 intact. Non-OPEC relentless. **NAT GAS:** $3.42 (-3%). Mild Jan thru 23 caps demand. EIA -114 Bcf wk end Jan 2. LNG 18.5 bcf/d near record, prod 112.2 bcf/d. EIA $4.00 '26 avg holds. **CHINA:** Renewables/storage boom, LNG rebound, elec demand +5.7%, PMI expansion. **THE WEEK:** OPEC freeze locked. EIA beats. Mild weather dips gas—buy opp. **BOTTOM LINE:** Crude shorts trapped on rebound. Gas structural. Decoupling executes. **FINAL WORD:** Energy deal needs capital? Institutional/family office networks ready. [email protected]. Subject: Energy Capital. This is Energy Markets Daily. Next week: Strategic Positioning.

Welcome to Energy Markets Daily. Thursday, January 8, 2026 — Strategic Positioning. **CRUDE OIL:** WTI at $57.41, flat on the day. Brent at $60.85. EIA weekly showed crude inventories up 1.2 million barrels (vs -1.5M expected). Gasoline down 2.1 million. Refinery utilization 93.2%. The build confirms oversupply—IEA's 3.8 million bpd surplus thesis intact. OPEC+ Q1 freeze holding firm. Non-OPEC machine rolls on. Position: Short crude, $55 WTI target in sight. **NATURAL GAS:** $3.12, up 1.2%. EIA storage withdrawal -62 Bcf (vs -75 consensus). Inventories 2.1% above 5-year average. Warm Jan 8-14 forecast caps upside, but LNG exports smashed record 20.1 Bcf/d. Production 110.2 Bcf/d. EIA holds $4.00 2026 average. Position: Long gas—weather dip is the entry. **CHINA UPDATE:** Services PMI 52.0 confirmed slowdown, but stimulus pipeline active. 15th Five-Year Plan infrastructure spend watch. **CATALYST WATCH:** Fed minutes today. Late Jan cold potential. OPEC+ compliance Feb 1. **THE BOTTOM LINE:** EIA confirms crude glut. Gas storage beat supports structure. Decoupling sharpens—short crude, long gas. Trade data. **FINAL WORD:** Energy project needs capital? Connect to institutional/family office networks. [email protected]. Subject: Energy Capital. This is Energy Markets Daily. Friday: Weekly Recap.

Welcome to Energy Markets Daily. Wednesday, January 7, 2026 — Market Update. **CRUDE OIL:** WTI at $57.13, down 0.2%. Brent at $60.53, down 0.3%. Soft trading amid oversupply fears. OPEC+ locked in Q1 output freeze—1.65 million bpd voluntary cuts hold through Feb/March. Exactly as predicted. IEA surplus at 3.8 million bpd for 2026. Non-OPEC supply growth from US, Brazil, Canada, Guyana relentless. OPEC+ trapped—no room to ramp without price collapse. **NAT GAS:** Henry Hub $2.86-$3.44 range. Down 5% weekly on warm Jan 7-11 forecast across eastern/southern US—crushing heating demand. EIA storage draw -38 Bcf last week (vs -51 consensus). Inventories 1.7% above 5-year average. But LNG exports hit record 19.9 Bcf/d. Production near 110 Bcf/d. Short-term bearish weather play, structural bullish—EIA holds $4.00/MMBtu 2026 average. Dallas Fed $4.19 year-end. **CATALYST WATCH:** EIA Weekly Petroleum Jan 8. Mid-Jan Northeast/Midwest storm potential. Late Jan cold snap watch. China data flows. OPEC+ compliance. **THE BOTTOM LINE:** Crude oversupplied, OPEC stuck. Gas dips on weather—prime buying opp for LNG thesis. Trade the decoupling. Data over headlines. **FINAL WORD:** Energy project or deal needs capital? We connect to institutional/family office networks. [email protected]. Subject: Energy Capital. This is Energy Markets Daily. Thursday: Strategic Positioning.