Coquest

Your Daily Energy Report for May 13, 2025

Posted on 2025-05-13

Crude Oil

Crude Oil futures for June settled up $1.72 or 2.776% at $63.67. Oil prices climbed on Tuesday, marking a fourth consecutive day of gains and reaching levels not seen in over a month. The upward move was driven by renewed geopolitical risks and improving trade sentiment. Speaking in Saudi Arabia, the U.S. President reinforced warnings of potential sanctions targeting Iranian oil exports, contingent on progress in nuclear negotiations. Simultaneously, optimism around international trade increased as the U.S. and China agreed to temporarily scale back tariffs on each other’s goods, though questions linger about the path forward once the 90-day reprieve ends. The rally in oil markets came even as Saudi Arabia advocated for increased output and stricter compliance enforcement among OPEC members. The group’s collective supply has grown more than expected since April, with May’s output projected to rise by over 400,000 barrels per day.
 

Natural Gas

Natural Gas futures for June settled up $.001 or .027% at $3.647. Natural gas prices stayed mostly steady today as demand projections for the next two weeks were lowered, partly due to reduced gas flows to LNG export facilities amid seasonal maintenance. Average LNG feedgas fell to 15.1 bcfd so far in May from a record of 16.0 bcfd in April, with notable maintenance at Cameron LNG in Louisiana and Cheniere’s Corpus Christi plant in Texas. Corpus flows dropped to a two-month low of 1.5 bcfd on Tuesday. Freeport LNG also saw a brief outage. Despite the current dip, the EIA expects gas prices to rise in the coming months, driven by growing LNG exports and seasonal demand from the power sector. Also, gas output in the Lower 48 states slipped to 103.7 bcfd so far in May from 105.8 bcfd in the previous month.
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