Coquest

Your Daily Energy Report for August 7, 2025

Posted on 2025-08-07

Crude Oil

Crude Oil futures for September settled down -$.47 or -.73% at $63.88. Oil prices declined on Thursday, marking a sixth consecutive day of losses. Market sentiment was influenced by diplomatic developments concerning the conflict in Ukraine, with expectations raised for a forthcoming meeting between President Vladimir Putin and President Donald Trump. Despite supportive factors such as a larger-than-expected 3 million barrel decrease in US crude inventories, these news items exerted downward pressure on prices. Additionally, there were new economic measures, including a 25% tariff on Indian goods linked to Russian oil imports by Trump, with potential further tariffs on China. Saudi Arabia also adjusted its September crude prices for Asian buyers upwards for a second month due to supply constraints and robust demand. However, global economic uncertainties and geopolitical shifts constrained any potential oil market gains.
 

Natural Gas

Natural Gas futures for September settled down -$.01 or -.325% at $3.067. Natural gas prices edged lower as diminished demand tied to milder weather conditions outweighed the supportive impact of a smaller-than-expected storage build. Government data showed that underground gas reserves grew by just 7 billion cubic feet for the week ending August 1, bringing total stockpiles to 3,130 Bcf—marking the smallest addition of the 2025 injection season. The build came in well under both the typical five-year increase of 29 Bcf and the 18 Bcf consensus forecast from analysts surveyed by the Wall Street Journal. As a result, the storage surplus versus the seasonal norm narrowed to 173 Bcf, down from 195 Bcf the previous week.
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