Coquest

Your Daily Energy Report for October 10, 2025

Posted on 2025-10-10

Crude Oil

Crude Oil futures for November settled down -$2.61 or -4.243% at $58.90. Oil prices dropped on Friday, the weakest close since early May, amid renewed friction between Washington and Beijing that unsettled global markets. President Trump warned of sharply higher tariffs on Chinese imports and suggested he might cancel his meeting with President Xi, fueling worries that escalating trade tensions could dampen worldwide growth and energy consumption. The selloff was further pressured by continued signals of ample supply from both OPEC+ members and other major producers. Meanwhile, easing geopolitical risks in the Middle East—highlighted by movement toward a Gaza ceasefire—helped strip away a portion of the recent risk premium. Traders ramped up short selling as investors moved out of risk assets, deepening the decline. Analysts said that, absent a clear bullish driver, crude prices may remain choppy around the $60 mark due to concentrated positioning in the options market.
 

Natural Gas

Natural Gas futures for November settled down -$.163 or -4.986% at $3.106. Natural gas prices slid today, hitting a two-week low as comfortable storage levels and forecasts for mild late-October weather weighed on demand expectations. Strong production earlier in the year supported hefty storage injections, pushing inventories to roughly 4% above the typical seasonal level. According to the latest federal data, underground reserves grew by 80 bcf during the week ending October 3—slightly exceeding both forecasts of 77 bcf and last year’s 78 bcf increase. Average output across the Lower 48 has dipped to around 106.4 bcfd in October so far, down from 107.4 bcfd in the prior month. Meanwhile, LNG feedgas deliveries have averaged 16.1 bcfd this month, up from 15.7 bcfd in September and hovering near all-time highs.
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