Coquest

Your Daily Energy Report for June 18, 2025

Posted on 2025-06-18

Crude Oil

Crude Oil futures for July settled up $.30 or .401% at $75.14. Oil prices ended higher on Wednesday after a choppy trading session, as markets reacted to the risk of potential supply shocks linked to ongoing hostilities between Iran and Israel, along with uncertainty around possible U.S. intervention. Iran’s top leader publicly dismissed President Trump’s demand for total capitulation, while Trump, speaking to the press, stated his patience was wearing thin but stopped short of confirming any military response. At the same time, the Federal Reserve kept interest rates unchanged and maintained its outlook for rate reductions later in the year, though it signaled a more cautious approach due to inflation concerns tied to recent tariff moves. Meanwhile, U.S. crude inventories dropped significantly—down 11.5 million barrels to 420.9 million—according to data released by the EIA.
 

Natural Gas

Natural Gas futures for July settled up $.138 or 3.583% at $3.989. Natural gas prices jumped again today, continuing a multi-day upswing as traders looked ahead to the upcoming storage update from the EIA. Intensifying heat across much of the South and East is fueling near-term demand projections, with weather models from NatGasWeather showing temperatures ranging from the 80s to 100s over much of the country into early next week. This heatwave is expected to keep national consumption elevated. Market participants are anticipating heightened price swings around the release of the storage figures. Estimates suggest a storage addition between 96 and 98 billion cubic feet, notably above the typical seasonal increase of 72 Bcf. If realized, a 97 Bcf injection would mark the eighth straight week of larger-than-usual builds.
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