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CIR Research Desk

CIR Research Desk

Large oil tanker sailing on the ocean at sunset — maritime crude transport.

CIR Afternoon Update — April 10, 2026

Crude markets pulled back on Friday afternoon as traders weighed cautious optimism around the Strait of Hormuz against lingering supply disruptions, pushing WTI down more than $2 on the session. Gulf Producers Signal First Steps Toward Hormuz Resumption According to OilPrice.com citing Reuters, Saudi Arabia, Kuwait, and Iraq have

CIR Morning Brief — Friday, April 10, 2026

CIR Morning Brief — Friday, April 10, 2026

A volatile week for crude markets ends with more questions than answers: the Iran-U.S. ceasefire that briefly crashed WTI $18 on Tuesday is already fraying, Iranian forces re-mined key Hormuz approaches, and prices have clawed back toward the $98 handle. For U.S. upstream, the week was a stress

Aerial view of an oil tanker at sea — crude oil shipping disruption

CIR Afternoon Update — April 9, 2026

WTI surges $3.57 on Hormuz ceasefire uncertainty, Chevron flags $1.6–2.2B Q1 upstream beat, and U.S. crude inventories rise 3.1M barrels.

CIR Morning Brief — Thursday, April 9, 2026

CIR Morning Brief — Thursday, April 9, 2026

April 9, 2026 — Houston The ceasefire lasted less than 24 hours. Iran has reportedly re-closed the Strait of Hormuz, with IRGC forces mining the passage and Iranian state media publishing charts showing a "danger zone" along the normal tanker transit route. Iranian drones also struck a pumping station

Precision welder in blue FR coveralls working on oilfield pump/valve component — oilfield services industrial setting.

CIR Afternoon Update — April 8, 2026

Crude markets experienced one of their most volatile sessions in years on Wednesday as a U.S.-Iran ceasefire deal briefly triggered a historic price collapse, only for fresh geopolitical shocks to temper the relief rally. WTI Plunges as Hormuz Reopens According to OilPrice.com citing Reuters and Morningstar data,

Permian Basin workover rig with pumpjacks operating in background, West Texas

CIR Morning Brief — Wednesday, April 8, 2026

April 8, 2026 — Houston WTI crude collapsed $18.34 overnight — its largest single-session percentage decline since the COVID demand shock of 2020. The trigger: a conditional two-week ceasefire agreement between the U.S. and Iran announced late Tuesday by President Trump, which sent oil markets into a full risk-off unwind.

CIR Afternoon Update — April 7, 2026

CIR Afternoon Update — April 7, 2026

Oil markets remained on a knife's edge Tuesday as the Strait of Hormuz crisis entered its second month with no resolution in sight, keeping crude prices at their highest levels in nearly two decades. According to Rigzone, West Texas Intermediate settled at $112.41 per barrel Monday — up