Coquest

Your Daily Energy Report for September 3, 2025

Posted on 2025-09-03

Crude Oil

Crude Oil futures for October settled down -$1.62 or -2.470% at $63.97. Oil prices slipped on Wednesday, giving up earlier gains that had lifted them to a four-week peak, after renewed signs of rising supply hit the market. Reports suggested OPEC+ may opt to raise output at its meeting this weekend, catching traders off guard since most had anticipated steady production levels. Any increase would add to the group’s series of supply boosts this year, even as demand signals weaken, as producers seek to protect market share and boost state revenues. At the same time, shipping data showed Russian crude exports to China jumped again, with Beijing stepping in to charter tankers following reduced Indian demand tied to steep US tariffs. US consumption prospects also dimmed after the latest ISM factory survey came in weaker than expected.
 

Natural Gas

Natural Gas futures for October settled up $.055 or 1.828% at $3.064. Natural gas prices rose today, trading close to their highest level in three weeks, as stronger near-term demand expectations and strength in broader energy markets provided support. Still, gains were restrained by abundant storage, strong production levels, and outlooks for milder weather that could limit consumption. The move extended a five-day winning streak—the longest run since February. Analysts highlighted that elevated supply has enabled storage injections to run roughly 5% above seasonal norms. Even so, early September data shows a slight dip in Lower 48 production, while LNG feedgas demand has also eased back. Forecasts indicate that consumption is likely to soften next week, which may weigh on prices despite the recent upswing.
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