Coquest

Your Daily Energy Report for August 28, 2025

Posted on 2025-08-28

Crude Oil

Crude Oil futures for October settled up $.45 or .701% at $64.60. Oil prices advanced on Thursday after shaking off earlier declines. The rebound came as optimism for a Russia-Ukraine peace settlement faded, cutting chances that additional Russian supply would hit global markets. Hopes for lighter restrictions on Moscow’s exports diminished, while traders looked ahead to potential signals from President Trump on whether tougher sanctions may be imposed. Meanwhile, Ukraine ramped up drone attacks on Russian energy facilities, creating more disruption and uncertainty. Washington also urged India to trim its Russian imports following a decision to raise tariffs on Indian goods to 50%. Despite the day’s bounce, the broader market tone stayed weak, with rising OPEC+ output and growing non-OPEC supply expected to tip balances into surplus by the end of the year. Thin volumes ahead of the U.S. Labor Day holiday added to choppy price swings.
 

Natural Gas

Natural Gas futures for October settled up $.058 or 2.01% at $2.944. Natural gas prices edged higher today after federal data showed a smaller-than-expected increase in underground storage, cutting the inventory surplus to the five-year average for a second week in a row. Stocks expanded by 18 Bcf, well under the 28 Bcf addition that analysts surveyed by the Wall Street Journal had anticipated. On the demand side, the Edison Electric Institute noted that U.S. electricity generation climbed 7.7% from a year earlier, hinting at resilient baseline consumption. Still, that boost may be short-lived, as forecasts call for cooler-than-usual weather stretching from the Carolinas to California into early September, which would reduce gas use for power generation.
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