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CIR Morning Brief — Monday, April 6, 2026

CIR Morning Brief — Monday, April 6, 2026

A potential ceasefire deal sits on tables in both Washington and Tehran this morning — and how they respond could define the next 30 days in crude markets. According to Reuters, Pakistan has transmitted a ceasefire framework to both the United States and Iran that, if accepted, would reopen the Strait

Two active drilling rigs on Delaware Basin lease, New Mexico Permian scrubland, aerial view

Permian Basin Rig Count Tracker: Weekly Data, Sub-Basin Trends, and 2026 Production Outlook

The Permian Basin had 241 active rigs as of March 27, 2026, according to Baker Hughes weekly data — representing 44 percent of all active US land drilling rigs. With the total US rig count at 543, the Permian's dominance remains structural, not cyclical. That concentration means the basin&

Upstream oil and gas pumpjack and production infrastructure, U.S. E&P operations

Hormuz Blockade Week Five: How U.S. Upstream Operators Are Positioned to Capture the Windfall

Upstream oil and gas pumpjack and production infrastructure, U.S. E&P operations

CIR Morning Brief — Saturday, April 4, 2026

WTI surges past $111 as Iran strikes Gulf refineries, Hormuz transit routes shift, and U.S. operators eye windfall revenues.

Tight vertical shot looking up at workover/pulling unit mast at dusk — deep blue to amber twilight

CIR Afternoon Update — April 3, 2026

APRIL 3, 2026 — 4:30 PM CT Crude oil markets experienced a historic shock Friday, with WTI futures surging more than $11 per barrel — a move exceeding 11% — as active supply disruptions through the Strait of Hormuz rattled global energy markets. According to OilPrice.com price data, WTI settled near

Oilfield welder at work — representing the labor and capital intensity of upstream operations during a market crisis

The Hormuz Reckoning: What the Iran Oil Shock Means for U.S. Upstream

Natural gas processing facility and pipeline, LNG export terminal

The Hormuz Test: What One Empty LNG Tanker Tells Us About Global Energy Risk