Coquest

Your Daily Energy Report for September 30, 2025

Posted on 2025-09-30

Crude Oil

Crude Oil futures for November settled down -$1.08 or -1.702% at $62.37. Oil prices slipped on Tuesday, adding to the prior day’s losses, as markets weighed the impact of rising supply and progress toward a possible truce in Gaza. Reports suggest OPEC+ could authorize an additional 137,000 barrels per day increase for November at its upcoming meeting. Meanwhile, flows from Iraq’s Kurdistan region resumed over the weekend through the Iraq–Turkey line after a temporary agreement ended a halt lasting more than two years. On the political front, President Trump and Prime Minister Netanyahu announced they had agreed on a provisional 20-point peace framework for Gaza, though Hamas has not endorsed it. Trump added that should Hamas reject the plan, Israel would have his full support to take harsher measures. At the same time, worries about a potential US government shutdown further weighed on the demand outlook.
 

Natural Gas

Natural Gas futures for November settled up $.036 or 1.102% at $3.303. Natural gas prices gained ground today after updated forecasts suggested a warmer pattern for the eastern and southern states during October 4–13. While national consumption is expected to remain soft into early October due to generally mild conditions, the warmer outlook could extend air conditioning use and lift power burn, offering some support despite subdued short-term demand. On the supply side, production continues to weigh on the market, with Lower 48 dry gas output at 108 Bcf/d on Monday, about 6.4% above last year’s level. Demand has also risen, up 4.4% to 69.8 Bcf/d, and LNG feedgas flows reached 15.8 Bcf/d, a weekly gain of over 10%. Even so, the abundance of supply has capped stronger price momentum.
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