Coquest

Your Daily Energy Report for August 8, 2025

Posted on 2025-08-08

Crude Oil

Crude Oil futures for September settled flat at $63.88. Oil prices finished unchanged on Friday, hovering near their lowest level in two months and recording a weekly loss of more than 5%. Traders weighed the impact of newly imposed U.S. tariffs, which took effect Thursday, against speculation of an upcoming meeting between Presidents Trump and Putin. The tariffs have heightened worries about slower global growth and reduced oil consumption. At the same time, reports of a potential Trump–Putin summit fueled hopes for progress toward ending the Ukraine war, potentially leading to eased sanctions on Russia and a lift to its equity markets. Still, market analysts are skeptical, noting that any deal remains uncertain as Moscow is likely to press for territorial gains while Washington is expected to push for a ceasefire. Adding to the uncertainty, the possibility of secondary sanctions on nations purchasing Russian energy—such as China and India—continues to weigh on sentiment.
 

Natural Gas

Natural Gas futures for September settled down -$.077 or -2.511% at $2.99. 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 from195 Bcf the previous week.
​​​​
Continue reading the full Coquest Daily Report.

---