Coquest

Your Daily Energy Report for October 22, 2025

Posted on 2025-10-22

Crude Oil

Crude Oil futures for November settled up $.68 or 1.176% at $58.50. Oil prices rose on Wednesday amid signs of progress on a possible trade accord between the U.S. and India. Reports indicated the deal could lead India to gradually scale back purchases of Russian oil, supporting demand for alternative suppliers. President Trump said Prime Minister Modi had agreed to the plan, though Indian officials only confirmed a discussion without offering specifics. Refiners in India have hinted they may trim, but not fully stop, Russian imports. In Europe, policy makers are preparing to approve a 19th round of sanctions on Russia after Slovakia withdrew its opposition. On the U.S. side, the Energy Department announced it would add 1 million barrels to the Strategic Petroleum Reserve, which could slightly tighten short-term supplies. Government data also revealed that domestic crude inventories declined by nearly 1 million barrels last week, while gasoline and other fuel stocks dropped more than anticipated.
 

Natural Gas

Natural Gas futures for November settled down -$.024 or -.691% at $3.450. Natural gas prices ended the session slightly lower after a volatile day of trading ahead of the government’s weekly storage update. Market analysts described the current setup as a typical seasonal transition, with residential heating use starting to climb while power generation demand tapers off. Recent weather model updates have turned notably colder, lifting sentiment among bullish traders. Forecasts from Atmospheric G2 now show a chillier trend for late October through early November across much of the central and eastern U.S., which could drive up heating consumption. Still, strong domestic supply continues to limit upward momentum. Data from BloombergNEF showed dry gas production hitting 104.6 billion cubic feet per day on Tuesday—about 1.1% higher than the same time last year.
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