07/11/2026
Ninjabobsolutions, LLC
“Most training builds shooters. Ninja’s style builds performers. Not just on the range — but when it matters.”
07/11/2026
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07/08/2026
Oil/gas prices
As of Wednesday, July 8, 2026, oil prices surged following comments by President Trump regarding the ceasefire with Iran and renewed military tensions in the Middle East.
“…some long-term forecasts still anticipate a potential return to a supply glut, with some analysts predicting prices could eventually head south toward $60 per barrel.”
Benchmark Prices
• Brent Crude: Traded between $78.17 and $80.07 per barrel, with some reports citing a jump of nearly 8% to $80 per barrel.
• WTI Crude: Traded between $72.41 and $75.77 per barrel, with specific futures settling around $75.38 to $75.77 per barrel.
Market Context Prices have spiked sharply after President Trump declared the ceasefire "over" and threatened further strikes, raising concerns about supply disruptions in the Strait of Hormuz. This move reversed recent declines, pushing prices back above their pre-war levels of approximately $72 per barrel. Analysts note that while geopolitical risks are driving short-term spikes, some long-term forecasts still anticipate a potential return to a supply glut, with some analysts predicting prices could eventually head south toward $60 per barrel.
Market Outlook and Forecasts
Despite the immediate spike, market analysts remain divided on the long-term trajectory of oil prices.
• Short-Term Volatility: The market is currently pricing in a high "risk premium" due to the unpredictability of U.S.-Iran relations and the potential for supply disruptions.
• Bearish Long-Term Forecasts: Prior to today's escalation, the International Energy Agency (IEA) and the U.S. Energy Information Administration (EIA) had projected a return to an oil glut later in 2026. The EIA's July Short-Term Energy Outlook had forecast Brent prices falling to an average of $70 in the fourth quarter of 2026 and $65 in 2027, citing recovering supply and demand destruction caused by high prices.
• Supply Dynamics: Before the ceasefire collapsed, increased production from the Middle East and record U.S. output had been pushing prices down. Analysts note that unless the conflict leads to a prolonged closure of the Strait of Hormuz, the underlying fundamentals of oversupply could reassert themselves once the immediate shock subsides.
https://oilprice.com/
https://tradingeconomics.com/commodity/crude-oil
https://markets.businessinsider.com/commodities/oil-price
https://www.gasbuddy.com/gaspricemap?lat=39.9200472005568&lng=-94.4850061873092&z=4&__cf_chl_f_tk=FHXLV_ff7QIqIzZEzF8G_P64fth2LYPS34ilI0O73do-1783188304-1.0.1.1-qgMs0u_zGuGmYGEOyRoS5kU5fBlCaEHXvL0L5rtd2ps
USA and Local National Gas Station Price Heat Map - GasBuddy.com Check out the heat map for average unleaded gas prices around the country for both Canada and the US. Type in your city to see a local gas prices map.
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