Weekly Recap: Week 26 Complete

Friday, June 26, 2026. WEEK 26 COMPLETE. Twenty-six weeks running. The thesis delivers again. CRUDE OIL RECAP: Monday opened $74.82 (deal live, Hormuz open, geopolitical premium intact). Tuesday technicals showed broad range $73-$78 zone, short bias below $73.91. Wednesday EIA inventory report crude fell 8.3M barrels week ending Jun 12 (10th consecutive draw, multi-decade lows). Thursday crude broke $70 (fade trade complete, mean reversion delivered). Friday closed $70.54. WEEKLY SUMMARY: Week-start $74.82, week-end $70.54, weekly change -$4.28 (-5.72%). Weekly high $78.96 (Mon), weekly low $68.91 (Thu). Largest daily drop -3.92% Wed (close $70.34). Daily closes Mon $74.82, Tue $73.21, Wed $70.34, Thu $71.52, Fri $70.54. Pattern seventh lower low in recent sessions. Key drivers easing supply disruption fears from Strait of Hormuz reopening, EIA revised 2026 global demand forecast lower (-1.1M bpd). Context well below 2026 peaks above $100/bbl earlier in year. NATURAL GAS RECAP: EIA Weekly Storage Report released Jun 25 for week ending Jun 19: Working gas 2,835 Bcf. Net change +76 Bcf injection. Year-ago 49 Bcf below. 5-year average 152 Bcf above. HENRY HUB SPOT PRICES: Jun 5 $3.03/MMBtu, Jun 12 $3.16/MMBtu, Jun 19 $3.12/MMBtu, Jun 22 $3.16/MMBtu. HENRY HUB FUTURES: August contract ~$3.282-$3.288. Nearby contracts low-to-mid $3.10s-$3.20s range. Some daily closes $3.15-$3.23. EIA PROJECTIONS: Henry Hub averages ~$3.30-$4.00/MMBtu for parts of 2026. WEEK 26 SUMMARY: Deal live. Hormuz shipping normalizing. Crude fade trade complete, mean reversion delivered, broke $70, support at $67.93. Gas storage building, injections strong, accumulation intact, $3.05-$3.15 prime entry, target $4.00+. Geopolitical premium gone. WEEK 27 PREVIEW: Watch further Hormuz normalization. Technical talks resume Geneva. Crude support at $67.93. Gas accumulation continues. BOTTOM LINE: Twenty-six weeks. Every thesis confirmed. Trade the data, not the headlines.