Coquest

Your Daily Energy Report for August 29, 2025

Posted on 2025-08-29

Crude Oil

Crude Oil futures for October settled down -$.50 or .774% at $64.10. Oil prices slipped on Friday, positioning the market for its first monthly setback in four months, though prices are still on pace for a second week of gains. The retreat reflected expectations for softer U.S. fuel demand with the summer travel season winding down after Labor Day, as well as broader supply concerns following the IEA’s warning that production growth could surpass consumption in the near term. Additional pressure came from OPEC+ efforts to restart idle capacity. On the other hand, prices found some backing from geopolitical tensions and possible disruptions, including Ukrainian drone strikes on Russian energy hubs and the chance of tighter U.S. sanctions hinted at by President Trump. Traders also kept watch on India’s crude imports amid U.S. pressure to scale back purchases from Russia, but forecasts suggest inflows may climb in September, keeping the outlook unsettled.
 

Natural Gas

Natural Gas futures for October settled up $.053 or 1.80% at $2.997. Natural gas prices ended the session in positive territory, locking in a weekly advance as stronger LNG export demand and a lighter-than-expected storage increase narrowed the excess over seasonal norms to its smallest margin since early June. Government data released Thursday showed inventories grew by just 18 Bcf, well under the consensus call for 27 Bcf and far below the typical 38 Bcf five-year build. The smaller addition gave buyers fresh incentive to push prices higher, though forecasts continue to lean toward cooler-than-average weather. Separately, ExxonMobil outlined a long-term outlook projecting global gas use climbing 20% and LNG volumes doubling by mid-century, driven by Asia’s rising consumption and increased electrification in heavy industry.
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