Coquest

Your Daily Energy Report for June 20, 2025

Posted on 2025-06-20

Crude Oil

Crude Oil futures for July settled down -$.21 or -.279% at $74.93. Oil prices edged down on Friday, though the contract still notched its third straight weekly advance. The minor pullback followed signals from President Trump indicating a pause on possible U.S. military action against Iran, opening the door for renewed diplomatic efforts over its nuclear ambitions. Nonetheless, the broader Middle East situation remains tense, with reports suggesting that Israel’s Prime Minister has directed more aggressive attacks on critical Iranian infrastructure. Despite these developments, Iran has reportedly sustained its crude shipments, loading an estimated 2.2 million barrels per day—its highest in over a month. At the same time, prices drew strength from a significant drop in domestic oil stockpiles, with earlier figures revealing the largest weekly decrease in U.S. inventories in the past year. Together, the elevated geopolitical stakes and tightening supply picture continue to support a generally optimistic tone in the energy markets.
 

Natural Gas

Natural Gas futures for July settled down -$.142 or -3.56% at $3.847. Natural gas prices slipped today but were still poised to log their strongest weekly performance in more than a month, rising roughly 10%. The rally has been fueled by forecasts showing an intense heatwave sweeping from the Midwest to the Eastern Seaboard, with widespread triple-digit temperatures expected to spike electricity demand for cooling. Geopolitical concerns are adding to the bullish sentiment, as recent Israeli airstrikes on critical Iranian facilities have raised fears of potential disruptions to LNG traffic through the Strait of Hormuz. On the supply side, the latest government data showed a smaller-than-anticipated stockpile build of 95 Bcf, reinforcing signs of a tighter market. Meanwhile, Freeport LNG has asked regulators for an additional 40 months to complete its fourth train, now aiming for 2031.
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