Coquest

Your Daily Energy Report for October 7, 2025

Posted on 2025-10-07

Crude Oil

Crude Oil futures for November settled up $.04 or .065% at $61.73. Oil prices traded mostly flat on Tuesday as traders balanced a modest OPEC+ supply increase against ongoing worries about sluggish consumption and excess barrels on the market. Over the weekend, the alliance confirmed it would add about 137,000 barrels per day, sticking with October’s pace instead of opting for a larger boost as some had anticipated. This decision coincides with a pickup in Venezuelan shipments, the restart of Kurdish exports via Turkey, and a buildup of unplaced Middle Eastern cargoes for November, all contributing to a looser supply picture. Losses were cushioned somewhat by fresh risks in Russia, where a Ukrainian drone strike temporarily shut down the main distillation unit at the Kirishi refinery. That outage may take roughly a month to repair, reducing availability in the short term.
 

Natural Gas

Natural Gas futures for November settled up $.141 or 4.20% at $3.498. Natural gas rose today as output continued to ease. So far this month, production in the Lower 48 has averaged roughly 106.5 bcfd, a pullback from 107.4 bcfd in September and the record 108 bcfd reached in August. Daily volumes were projected to touch a four-month low near 104.4 bcfd. Earlier elevated output had pushed inventories to about 5% above the seasonal average. Weather models point to predominantly above-normal temperatures lasting at least through October 22, reducing heating demand. At the same time, U.S. LNG plants have been drawing in about 16.1 bcfd during early October, up from 15.7 bcfd in September and surpassing the record seen in April. Still, Tuesday saw a dip in feedgas levels to 15.5 bcfd, largely because of lower receipts at Cheniere’s Sabine Pass facility in Louisiana.
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