Coquest

Your Daily Energy Report for October 21, 2025

Posted on 2025-10-21

Crude Oil

Crude Oil futures for November settled up $.30 or .522% at $57.82. Oil prices edged higher on Tuesday, as traders assessed oversupply worries ahead of upcoming U.S.–China trade discussions. Shipping analytics firm Vortexa reported a record 1.24 billion barrels of crude and condensate currently in transit, highlighting growing signs of excess supply as producers maintain high output despite slowing demand. The International Energy Agency also cautioned that global markets could face an unprecedented surplus next year, with OPEC+ and other suppliers continuing to add barrels even as consumption growth cools. Analysts anticipate another increase in U.S. crude stockpiles for the week, keeping sentiment bearish, though recent declines in gasoline and distillate inventories offered limited support.
 

Natural Gas

Natural Gas futures for November settled up $.077 or 2.267% at $3.474. Natural gas prices extended their recent rally as forecasts turned cooler for late October and early November, signaling a return to more typical heating demand for the start of winter. Both AtmosphericG2 and NatGasWeather pointed to a developing pattern of below-normal temperatures across the central and eastern parts of the country from roughly October 25 into early November. However, gains were tempered by strong production levels. Dry gas output from the Lower 48 reached about107.2 billion cubic feet per day on Monday, up 3.8% from a year earlier, while drilling activity continued to climb —with Baker Hughes reporting 121 active gas rigs last week, near a two-year peak. LNG exports held steady around 16.3 bcfd, down slightly from the prior week.
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