Coquest

Your Daily Energy Report for October 23, 2025

Posted on 2025-10-23

Crude Oil

Crude Oil futures for November settled up $3.29 or 5.624% at $61.79. Oil prices surged on Thursday, marking its highest level in two weeks, after Washington imposed new restrictions on major Russian energy producers. The sanctions target state-run Rosneft and privately held Lukoil—companies that together represent roughly half of Russia’s crude exports, estimated near 2.2 million barrels per day. The move is part of a broader U.S. effort to intensify economic pressure on Moscow amid ongoing conflict in Ukraine. Following the announcement, President Trump said he plans to raise the issue of Russian oil purchases with Chinese President Xi during their upcoming talks, reiterating that India has already committed to scaling back its imports. Meanwhile, the European Union approved its 19th sanctions round against Russia, which includes a ban on liquefied natural gas shipments from the country.
 

Natural Gas

Natural Gas futures for November settled down -$.106 or -3.072% at $3.344. Natural gas prices slid today after government data revealed a larger storage build than anticipated. The Energy Information Administration reported an 87 bcf increase in inventories for the weekending October 17, topping expectations of an 83 bcf rise. The gain, driven by relatively mild weather, also exceeded last year’s 79 bcf addition and the five-year norm of 77 bcf. Total gas in storage now sits about 0.9% above the year-ago level and roughly 4.5% higher than the five-year average, underscoring comfortable supply conditions. Earlier record-setting output allowed for strong injections, though recent figures suggest production has eased slightly. On the demand side, feedgas flows to U.S. LNG export terminals have climbed to a fresh monthly record.
​​​​
Continue reading the full Coquest Daily Report.

---