Crude Oil and Natural Gas Prices Rise Amid Global Market Volatility

The New York State Energy Research and Development Authority (NYSERDA) published its weekly energy market report for August 28, 2026. The report examined the global factors influencing markets, including the Iran war, Russian-Ukraine conflict, petroleum demand, refinery operations, U.S. trade policies, and geopolitical uncertainties.

Dominant market trends included higher prices for West Texas Intermediate (WTI) and Brent crude, while Henry Hub natural gas prices rose. Propane at Mt. Belvieu remained steady, but regional fuel inventories showed mixed changes: ultra-low sulfur diesel fell 13% week-over-week, natural gas inventories increased, and total gasoline and propane decreased.

The National Oceanic and Atmospheric Administration (NOAA) forecasts for New York State indicate likely above-normal temperatures for the 6-10 and 8-14 day periods. Precipitation is expected to lean above normal for the 6-10 day period and near normal to leaning above for the 8-14 day period.

The report included an interactive table based on the Store Companies dataset, featuring companies such as Sinopec, Saudi Aramco, ExxonMobil, Royal Dutch Shell, BP, Chevron, Marathon Petroleum, Valero Energy, TotalEnergies, and others. These companies are integrated oil & refining, petrochemicals, and natural gas operations with global presence.