Coquest

Your Daily Energy Report for July 10, 2025

Posted on 2025-07-10

Crude Oil

Crude Oil futures for August settled down -$1.81 or .-2.647% at $66.57. Oil prices slipped on Thursday as markets reacted to reports that OPEC+ is considering halting planned production increases beginning in October. Although discussions are still preliminary, the potential shift signals concern about a possible supply glut once peak summer consumption tapers off. Traders also evaluated the wider implications of President Trump’s latest trade actions, which include 50% tariffs on copper and selected imports from Brazil, scheduled to take effect on August 1. These measures have unsettled financial markets, fueling worries about a global economic slowdown that could dampen energy demand. At the same time, geopolitical tensions intensified after Houthi militants resumed assaults on vessels in the Red Sea, resulting in the sinking of two ships and the loss of crew.
 

Natural Gas

Natural Gas futures for August settled up $.123 or 3.827% at $3.337. Natural gas prices rose today, bouncing back from a six-week low as export demand picked up and hotter-than-normal weather forecasts signaled stronger consumption through late July. Average LNG shipments from the nation’s eight key terminals have reached 15.6 billion cubic feet per day so far this month, boosted by the return of several facilities from maintenance-related slowdowns. Feedgas deliveries were expected to hit a 10-week high of 16.0 bcfd on Thursday, with Cheniere Energy’s Corpus Christi plant ramping up from 1.5 to 2.2 bcfd. At the same time, forecasts call for elevated temperatures across much of the continental U.S., pointing to sustained demand for air conditioning. On the supply side, government data showed a 53 bcf addition to underground storage for the week ending July 4, in line with the typical seasonal average.
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