Coquest

Your Daily Energy Report for September 8, 2025

Posted on 2025-09-08

Crude Oil

Crude Oil futures for October settled up $.39 or .63% at $62.26. Oil prices rose on Monday, bouncing back after three consecutive days of losses. The recovery came as OPEC+ announced a smaller production increase than anticipated and amid growing concerns about potential new U.S. sanctions targeting Russian oil. The group plans to boost output by 137,000 barrels per day starting in October, significantly lower than previous adjustments of around 555,000 bpd in August and September, and 411,000 bpd in June and July. Some analysts pointed out that several members are already producing above their quotas, which could limit the real effect on supply. Nonetheless, the modest hike reflects caution in anticipation of a potentially oversupplied market this winter. Geopolitical developments are also contributing to upward pressure. On Sunday, Russia carried out its most extensive airstrike in the Ukraine conflict to date, hitting a government building in Kyiv for the first time.
 

Natural Gas

Natural Gas futures for October settled up $.042 or 1.378% at $3.090. Natural gas prices increased today, marking their highest level since late July and continuing a rally that has lasted about two weeks. The increase comes amid a slight drop in Lower 48 production, which averaged 107.7 bcfd in early September compared with August’s record 108.3 bcfd. Exports to LNG terminals are also expected to rise as Freeport returns to full operation. Forecasters predict temperatures will remain above normal through September 23, adding short-term demand pressure. Despite the recent gains, prices are restrained by historically high output and ample storage levels. The EIA reported a 55 bcf increase in storage for the week ending August 29, close to analysts’ 56 bcf estimate and well above last year’s 16 bcf and the five-year average of 36 bcf.
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