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The Hormuz Test: What One Empty LNG Tanker Tells Us About Global Energy Risk
CIR Morning Brief — Friday, April 3, 2026
WTI crude oil roared past the $104 mark this week, closing Thursday's spot session at $104.69 per barrel according to the U.S. Energy Information Administration — a sharp $3.43 gain from Monday's $101.26 close, and a cumulative rally of more than $8 per
CIR Afternoon Update — April 2, 2026
WTI crude extended this morning's historic surge through the afternoon session, trading at $111.50/bbl as of 4:00 PM CT — up $11.42 on the day (+11.41%) and well past the morning spike to $107.63. Brent followed to $109.20 (+7.99%). WTI Midland,
WTI's $35 Curve Gap: What the Hormuz Backwardation Is Really Telling Upstream Operators
CIR Morning Brief — Thursday, April 2
Good morning. Thursday, April 2nd, 2026 — here's what you need to know before the market opens.
💹 Overnight Price Action
Crude surged sharply overnight, with WTI (May 2026 front month) jumping $8.72 to $107.63/bbl (+8.82%) and Brent Crude rising $8.62 to $108.84/bbl
CIR Basin Scorecard: Q1 2026 Update
Each quarter, CIR publishes a clean basin-by-basin reference update using Baker Hughes rig count data and EIA production figures. This is the Q1 2026 edition. Use it as a snapshot and a baseline for tracking Q2 2026 changes.
🛢️ Permian Basin — 241 Rigs
Production context: Texas output at 5,