Coquest

Your Daily Energy Report for October 29, 2025

Posted on 2025-10-29

Crude Oil

Crude Oil futures for November settled up $.33 or .549% at $60.48. Oil prices rose on Wednesday, snapping a three-day losing streak as investors weighed the effects of new U.S. sanctions on Russian energy firms alongside the latest inventory figures. Government data showed a larger-than-expected draw of about 6.9 million barrels in domestic crude supplies, accompanied by declines in gasoline and distillate stocks, though inventories at Cushing, Oklahoma, saw a modest increase. The market also reacted to reports that a vessel transporting Russian crude to India had reversed course back to the Baltic Sea, hinting at initial trade disruptions following Washington’s move to sanction Rosneft and Lukoil. Indian refiners have paused fresh Russian oil purchases until receiving formal direction, though the state-run IOC said it will continue imports that meet compliance rules.
 

Natural Gas

Natural Gas futures for November settled up $.031 or .927% at $3.376. Natural gas prices recovered from earlier declines as the November contract expired. The brief boost from colder weekend forecast models has since faded, with updated outlooks now pointing to milder conditions for November 4–11. Although the eastern U.S. is still projected to see below-normal temperatures, expectations for weaker heating demand have reintroduced selling pressure. Traders are now focused on Thursday’s EIA storage update, which analysts surveyed by the Wall Street Journal expect to show a 73 Bcf injection, bringing total stocks to about 3,881 Bcf. Ample supply remains evident after last week’s larger-than-expected 87 Bcf build, which exceeded both the 83 Bcf consensus and the five-year norm of 77 Bcf. Current inventories stand roughly 4.5% above typical levels for this time of year.
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