Coquest

Your Daily Energy Report for August 6, 2025

Posted on 2025-08-06

Crude Oil

Crude Oil futures for September settled down -$.81 or -1.243% at $64.35. Oil prices dipped on Wednesday, marking a fifth consecutive decline and reaching a new six-week low. Earlier gains linked to supply concerns, stemming from President Trump's executive order imposing a 25% tariff on Indian goods due to Russian oil imports, were offset by a larger-than-anticipated 3 million barrel decrease in US crude inventories, which briefly supported prices. However, market sentiment turned bearish following indications from US Secretary of State Marco Rubio about potential sanctions against Russia later in the day, injecting uncertainty into trading. Additionally, expectations of increased supply from OPEC+ members added to downward pressure. Traders are now focused on upcoming developments regarding sanctions, tariffs, and their potential implications for global oil supply.
 

Natural Gas

Gas futures for September settled up $.067 or 2.226% at $3.077. Natural gas prices ended the day in positive territory, lifted by stronger LNG export activity and expectations for hotter conditions in mid-August that could spur increased consumption. Industry analysts anticipate Thursday’s government report will show a modest storage increase of 18 billion cubic feet—the smallest weekly gain since early April—potentially narrowing the excess above the five-year norm to 184 Bcf from 195 Bcf the previous week. On the export front, LNG feedgas demand has improved, averaging 15.9 billion cubic feet per day in the first days of August, up from July’s 15.5 bcfd. The rebound follows the resumption of operations at Freeport LNG’s Texas plant and record-level flows of 3.2 bcfd at Venture Global’s Plaquemines terminal in Louisiana.
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