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Permian Basin Operators Are Repricing 2026: Hedge Books, Breakevens, and the $90–$100 World
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
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.
When Hormuz Closes: The Atlantic Basin Scramble
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
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,