Coquest

Your Daily Energy Report for July 28, 2025

Posted on 2025-07-28

Crude Oil

Crude Oil futures for September settled up $1.55 or 2.379% at $66.71. Oil prices rose on Monday due to renewed geopolitical tensions following US President Donald Trump's acceleration of a deadline for Russia to agree to a ceasefire in Ukraine. Trump issued a warning that Russia must comply within 10–12 days or face 100% "secondary tariffs," heightening concerns about potential disruptions in crude oil supply. This development coincided with new EU sanctions, including a reduced price ceiling on Russian oil and restrictions on refined products from third countries, scheduled to take effect in January. These measures, if fully implemented, could tighten global oil supply, particularly amid constrained OPEC spare capacity. Additionally, oil prices reacted positively to Trump's announcement of a $750 billion energy deal with the EU. However, concerns about oversupply persist, with expectations that OPEC+ will likely increase production quotas again in September.
 

Natural Gas

Natural Gas futures for August settled down -$.122 or -3.923% at $2.988. Natural gas prices dipped today, as cooler-than-expected summer conditions and steady output weighed on the market throughout July. Forecasts signaled milder temperatures across much of North America, easing demand for air conditioning and reducing the amount of gas needed for electricity generation. Meanwhile, supply remained elevated, with production in the Lower 48 averaging about 107.2 billion cubic feet per day—topping the previous monthly high recorded in June. Storage levels remained ample, sitting approximately 6% above the typical average for this time of year, reinforcing oversupply concerns. On the export side, gas shipments to the country’s main LNG terminals climbed to around 15.8 bcfd as several plants resumed operations following maintenance-related shutdowns.
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