Coquest

Your Daily Energy Report for July 24, 2025

Posted on 2025-07-24

Crude Oil

Crude Oil futures for August settled up $.78 or 1.195% at $66.03. Oil prices rose on Thursday, ending a four-day decline. Market sentiment improved on optimism surrounding US trade talks and a significant drop in crude inventories that exceeded analysts' forecasts. Reports indicated progress in US-EU trade negotiations aiming for a 15% tariff on most EU goods, mirroring recent agreements with Japan. Expectations of reduced trade tensions supporting global economic growth eased concerns over future oil demand. Geopolitical tensions persisted with Russia temporarily halting oil exports from Black Sea ports, and discussions in the US and EU regarding potential sanctions on Russian energy continued. Exports of Azeri crude from Turkey’s Ceyhan port were suspended due to organic chloride contamination, although partial loadings have resumed.
 

Natural Gas

Gas futures for August settled up $.017 or .552% at $3.094. Natural gas prices edged up today, reversing part of the recent downturn that had pushed values to a three-month low. The rebound was driven by short-covering and a smaller-than-expected storage build. EIA figures revealed a 23 bcf injection into storage last week, near the lower end of analyst projections. However, expectations of milder summer temperatures in North America and steady, robust production have continued to limit price gains, with storage levels sitting about 6% above the seasonal average. Data from LSEG shows that gas production in the Lower 48 states has averaged 107.2 bcfd in July, exceeding the previous month’s record of 106.4 bcfd. At the same time, flows to the country’s eight key LNG export terminals have risen to 15.8 bcfd so far this month, boosted by facilities returning from maintenance and unplanned shutdowns.
​​​​
Continue reading the full Coquest Daily Report.

---