Coquest

Your Daily Energy Report for September 29, 2025

Posted on 2025-09-29

Crude Oil

Crude Oil futures for November settled down -$2.27 or -3.454% at $63.45. Oil prices fell on Monday after oil flows from Iraq’s Kurdish region resumed over the weekend, ending a pause that lasted more than two years. Exports through Turkey’s Ceyhan terminal are set to restart at roughly 180,000 to 190,000 barrels per day under a deal between Baghdad, the Kurdish authorities, and international producers. The U.S. had pushed for the restart, with volumes anticipated to eventually climb toward 230,000 barrels daily. The return of these shipments adds to concerns of oversupply, especially as OPEC+ looks poised to authorize another production boost of at least 137,000 barrels per day for November. This development follows a week where crude rallied more than 5%—the strongest since June—driven by Ukrainian attacks on Russian energy facilities that disrupted Moscow’s fuel exports.
 

Natural Gas

Natural Gas futures for November settled up $.061 or 1.903% at $3.267. Natural gas prices finished the session stronger after recovering from early weakness. Forecasts for warmer weather had weighed on the market earlier in the day, but support came later from signs of rising export demand. Production across the Lower 48 has averaged about 107.4 Bcf/d in September, slightly below August’s peak but still at robust levels. Friday’s decline to 106.3 Bcf/d marked the lowest in 11 weeks, though output remains near historical highs. Traders are also monitoring Hurricane Humberto, which is strengthening in the Atlantic but staying away from the Gulf of Mexico. With no immediate threat to LNG facilities or offshore production, the storm is seen as more likely to curb demand through possible power outages than to tighten supply.
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