Coquest

Your Daily Energy Report for July 7, 2025

Posted on 2025-07-07

Crude Oil

Crude Oil futures for August settled up $.93 or 1.388% at $67.93. Oil prices climbed on Monday, recovering from earlier losses even after OPEC+ announced a more aggressive supply boost and as traders remained wary of looming U.S. trade actions. The alliance agreed to lift production by 548,000 barrels per day in August, marking a significant step toward unwinding previous voluntary reductions—most of which came from Saudi Arabia. This adjustment comes on the heels of smaller monthly increases of 411,000 bpd between May and July. Citing steady economic conditions and firm market fundamentals, OPEC+ left the door open for further hikes at its August 3 meeting. In a nod to healthy regional demand, Saudi Arabia raised its official selling price for Arab Light crude to Asia to the highest level in four months. At the same time, traders remain cautious ahead of the August 1 implementation of targeted U.S. tariffs, adding uncertainty to the energy demand outlook for the remainder of the year.
 

Natural Gas

Natural Gas futures for August settled up $.003 or .088% at $3.412. Natural gas prices rose slightly today despite EIA data showing the 11th consecutive week of stronger-than-normal inventory builds. Storage levels grew by 55 billion cubic feet last week—above both market forecasts and last year’s comparable figure, though still under the five-year norm of 61 bcf. The pattern points to healthy production levels. At the same time, forecasts for warmer weather in mid-July are expected to boost electricity demand for cooling, increasing reliance on gas-powered generation. Export activity is also rebounding, with average deliveries to the major U.S. LNG terminals climbing to 15.4 bcfd in early July from 14.4 bcfd the month prior, as more facilities resume operations post-maintenance.
​​​​
Continue reading the full Coquest Daily Report.

---