Coquest

Your Daily Energy Report for June 17, 2025

Posted on 2025-06-17

Crude Oil

Crude Oil futures for July settled up $3.07 or 4.278% at $74.84. Oil prices surged on Tuesday, amid heightened geopolitical tensions involving the US and Iran. President Donald Trump's statements directed at Iran's leadership added to market uncertainty, reversing the previous day's decline driven by hopes for regional de-escalation. Despite these developments, market stability persists, bolstered by robust global supply, including increased output from OPEC+ and record production levels in the US. Analysts caution that while Israeli actions have targeted Iranian energy facilities, they have not disrupted oil export infrastructure, tempering immediate concerns of a supply disruption. However, potential Iranian actions affecting the Strait of Hormuz, a critical global oil transit route, could potentially push prices above $100, as suggested by Goldman Sachs.
 

Natural Gas

Natural Gas futures for July settled up $.103 or 2.748% at $3.851. Natural gas prices continued their gains today, reaching their highest level in almost three months, driven by stronger demand from hotter-than-usual July weather and a rebound in LNG exports. With recent maintenance at major LNG facilities—such as those in Louisiana and Texas—now wrapping up, export flows are set to ramp up in the coming weeks. In June so far, LNG feedgas usage has averaged 14.1 billion cubic feet per day, lower than May's 15.0 bcfd and April’s record-setting levels. Meanwhile, forecasts indicate sustained heat across much of the continental U.S. into early July, likely pushing up gas consumption for cooling. On the production side, Lower 48 output has edged higher to 105.3 bcfd this month, with a recent peak of 106.4 bcfd, marking the highest daily level in eight weeks.
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