Coquest

Your Daily Energy Report for September 26, 2025

Posted on 2025-09-26

Crude Oil

Crude Oil futures for November settled up $.74 or 1.139% at $65.72. Oil prices climbed on Friday, the highest since early August, and were on track for the biggest weekly advance since early June. The market was buoyed by tighter supply conditions and firmer demand expectations. Export bottlenecks and pipeline problems added to the momentum, as Russia kept restrictions on fuel flows in place —including a partial block on diesel shipments and a continued ban on gasoline —while OPEC+ delivered only about three-quarters of its planned output increase, leaving supplies short by roughly half a million barrels per day. US crude stockpiles unexpectedly declined, and forward demand was supported by China’s ongoing reserve builds and steady activity in energy-intensive industries. On the other hand, the resumption of Kurdish exports and a shift in expectations for US monetary policy —with fewer anticipated rate cuts —curbed some of the optimism for growth and fuel demand.
 

Natural Gas

Natural Gas futures for October settled down -$.069 or -2.376% at $2.835. Natural gas prices slipped today, though they were still heading for a weekly increase. Ongoing supply worries underpinned the market as Lower 48 production averaged 107.4 bcfd so far in September, down from August’s record 108.3 bcfd, with Friday output expected to dip to an 11-week low of 106.3 bcfd. The earlier production highs had enabled strong injections into storage, pushing inventories to roughly 6% above the five-year norm and about 1% higher year-on-year. Government data showed a 75 bcf stock build for the week ending September 19, matching projections. Looking forward, forecasts call for warmer-than-usual conditions through early October. LNG intake at export terminals averaged 15.7 bcfd in September, slightly below the prior month.
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