Coquest

Your Daily Energy Report for October 31, 2025

Posted on 2025-10-31

Crude Oil

Crude Oil futures for December settled up $.41 or .677% at $60.98. Oil prices rose on Friday, as rising geopolitical tensions in Venezuela briefly overshadowed persistent concerns about excess supply in global energy markets. Reports suggested the U.S. government was preparing potential airstrikes on Venezuelan military sites, possibly as soon as Friday, adding to near-term uncertainty over oil availability. The situation followed recent U.S. sanctions targeting Rosneft and Lukoil, designed to limit shipments of discounted Russian crude to Asian buyers. Even so, robust production levels and high seaborne transport volumes continued to signal abundant supply. OPEC+ is expected to approve a December output increase of roughly 137,000 barrels per day as part of its strategy to regain market share. This move coincides with elevated production from operators in both the U.S. and North Sea, while global oil-at-sea volumes climbed to an unprecedented 1.4 billion barrels this week.
 

Natural Gas

Natural Gas futures for December settled up $.168 or 4.247% at $4.124. Natural gas prices climbed today, reaching their highest level in about seven months, as forecasts for stronger heating demand coincided with expectations for sustained LNG exports to Europe and Asia. Colder weather projections for early winter boosted consumption outlooks for residential and commercial heating. At the same time, gas deliveries to America’s eight main LNG terminals averaged roughly 16.6 bcfd in October, setting a new monthly record and surpassing September’s 15.7 bcfd pace. The surge in export activity reflects rising European demand amid reduced dependence on Russian supplies and lower inventories at regional hubs, while U.S. officials continue to encourage energy import commitments from Asian trade partners.
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