Coquest

Your Daily Energy Report for October 6, 2025

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Crude Oil

Crude Oil futures for November settled up $.81 or 1.33% at $61.69. Oil prices climbed on Monday after OPEC and its partners opted for only a small supply hike, calming speculation about a more aggressive output boost. The coalition decided over the weekend to lift output by 137,000 barrels per day in November, repeating October’s increase. Traders viewed the move as deliberately cautious given lingering oversupply concerns. The alliance said its action reflected confidence in steady global growth and solid underlying market conditions, while stressing that production adjustments could be paused or reversed if needed. By late September, the group had already restored 2.2 million barrels per day of previously withheld supply—well ahead of schedule—and was gradually unwinding another 1.65 million bpd cut. Even so, the rally was capped as worries mounted that the continuing U.S. government shutdown might slow economic activity and weaken fuel demand.
 

Natural Gas

Natural Gas futures for November settled up $.033 or .993% at $3.357. Natural gas prices rebounded today after two straight sessions of losses, helped by lingering momentum from last week’s storage figures. Broader energy markets also traded higher following OPEC+’s decision for only a small production increase, which lifted overall sentiment. Government data released last week indicated underground gas reserves grew by just 53 bcf during the week ending September 26—well short of projections and far under the five-year norm of 85 bcf. Total stockpiles reached 3.561 tcf, slightly above the year-earlier mark and about 5% above average levels for the season. Looking ahead, weather models show a notable cool-down into mid-October that could spur stronger heating demand, though the current early-October warmth has temporarily limited consumption.
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