Coquest

Your Daily Energy Report for July 29, 2025

Posted on 2025-07-29

Crude Oil

Crude Oil futures for September settled up $2.50 or 3.748% at $69.21. Oil prices continued to advance on Tuesday, driven by easing global trade strains and mounting geopolitical uncertainty, both of which stirred concerns over future supply availability. Market sentiment improved following a trade arrangement between the U.S. and the European Union that averted an escalation and bolstered expectations for fuel consumption worldwide. The agreement reportedly includes plans for the EU to increase U.S. energy purchases by $750 billion, although many industry observers question the likelihood of hitting that figure. Adding to the upward momentum, President Trump raised diplomatic pressure on Moscow, calling for quicker progress toward peace in Ukraine and floating the possibility of tougher sanctions. On the economic front, robust U.S. consumer confidence data lifted hopes for sustained demand. Meanwhile, traders are eyeing this week’s Federal Reserve meeting, where interest rates are expected to hold steady.
 

Natural Gas

Natural Gas futures for August settled up $.093 or 3.112% at $3.081. Natural gas prices rose today, as outlooks for sustained heat through August raised expectations for stronger demand. Weather models now project widespread above-average temperatures, especially in regions like the Southeast, central South, and Midwest, which is expected to drive up air conditioning use and, in turn, boost gas consumption for power generation. Heightened geopolitical uncertainty also played a role in supporting prices, following President Trump’s move to accelerate the timeline for a truce in Ukraine—an action that could trigger stricter sanctions on Russian energy flows. Despite these bullish factors, domestic output remains robust, with production from the Lower 48 states averaging 107.5 billion cubic feet per day this month, topping June’s previous record.
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