Coquest

Your Daily Energy Report for August 12, 2025

Posted on 2025-08-12

Crude Oil

Crude Oil futures for September settled down -$.79 or -1.235% at $63.17. Oil prices slipped on Tuesday, hovering close to last week’s two-month low of $62.77, as President Trump extended the U.S.–China tariff pause by another 90 days and markets looked ahead to U.S.–Russia discussions on Ukraine. Trump tempered expectations for major progress, describing the meeting as an opportunity to gauge the potential for peace, while Ukraine’s President Zelensky dismissed any negotiations involving territorial concessions. While an eventual agreement could reduce risks to Russian crude supplies, uncertainty remains high. In other developments, OPEC forecasted a tighter oil market in 2026, pointing to stronger global demand and slower growth in non-member output. Traders now await upcoming monthly updates from the EIA for further insight into supply-demand trends.

Natural Gas

Natural Gas futures for September settled down -$.036 or -1.204% at $2.954. Natural gas prices declined for the fourth consecutive session, pressured by strong production levels and outlooks for cooler weather in the latter half of August, which have renewed worries over storage surpluses. The EIA trimmed its Henry Hub price forecast for the rest of the year by about 3%, though it still anticipates prices will climb from current levels as supply-demand balances tighten. The agency now projects that gas in storage will finish the injection season roughly 2% above the five-year norm, compared with its April call for 3% below average. Cooling demand remains elevated as high-pressure systems keep much of the nation hot, with temperatures in the upper 80s to triple digits across areas like Texas and the Southwest.
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