Coquest

Your Daily Energy Report for October 30, 2025

Posted on 2025-10-30

Crude Oil

Crude Oil futures for December settled up $.09 or .149% at $60.57. Oil prices managed to edge slightly higher on Thursday, with expectations of OPEC+ restoring additional output in December limiting further upside. The recent meeting between U.S. President Trump and China’s President Xi brought anticipated progress on easing trade restrictions between the two largest oil consumers. However, optimism over demand remained restrained as rising production from major suppliers continued to reinforce the view of a well-supplied market extending into next year. OPEC+ members are expected to approve a production boost of about 137,000 barrels per day for December as part of their ongoing strategy to reclaim market share. This move aligns with growing output signals from producers operating in the U.S. and the North Sea. Meanwhile, global oil in transit climbed to a record 1.4 billion barrels this week, underscoring elevated inventory levels worldwide.
 

Natural Gas

Natural Gas futures for December settled up $.141 or 3.696% at $3.956. Natural gas prices bounced back today, as expectations for strong LNG demand from Europe and Asia helped counter pressure from robust domestic output and storage levels. Recent figures indicated that gas deliveries to the nation’s eight major LNG export terminals averaged about 16.5 billion cubic feet per day in October, a new record and up from 15.7 bcfd in September. The increase reflects higher European demand amid reduced reliance on Russian supply and shrinking inventories at regional hubs, alongside U.S. efforts to secure additional energy export commitments from Asian trade partners. On the supply side, production has remained high at roughly 107 bcfd so far in October. Meanwhile, underground storage expanded by 74 bcf for the week ending October 27, surpassing expectations.
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