Coquest

Your Daily Energy Report for May 14, 2025

Posted on 2025-05-14

Crude Oil

Crude Oil futures for June settled down -$.52 or -.817% at $63.15. Oil prices ended lower on Wednesday, snapping a four-day winning streak as investors likely locked in gains following unexpected U.S. inventory data and resurfacing demand worries. The latest report from the Energy Information Administration revealed that domestic crude supplies expanded by 3.45 million barrels last week —a development that weighed on market sentiment. At the same time, gasoline and distillate stockpiles shrank by just over 1 million and 3.15 million barrels, respectively, in the lead-up to the summer travel period. On the global supply side, OPEC revised its 2025 projection for output growth outside the alliance, trimming it to 800,000 barrels per day due to more cautious outlooks for countries like the United States. Meanwhile, the group's April production only inched up by 25,000 barrels per day —well below its intended increase of 138,000.
 

Natural Gas

Natural Gas futures for June settled down -$.155 or .4.25% at $3.492. Natural gas prices dropped today, pressured by downward revisions to short-term consumption forecasts. The dip was influenced in part by decreased pipeline deliveries to LNG terminals due to ongoing seasonal maintenance. Average LNG feed levels so far this month are down to 15.1 bcfd, compared to April’s all-time high of 16.0 bcfd. This drop includes maintenance activities at Cameron LNG in Louisiana and Cheniere’s facility near Corpus Christi, Texas, where volumes hit a two-month low of 1.5 bcfd on Tuesday. Freeport LNG also experienced a short disruption. Still, the EIA anticipates upward pressure on prices in the months ahead, driven by increased LNG shipments and higher electricity demand as summer sets in. Meanwhile, gas production in the Lower 48 has declined to 103.7 bcfd.
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