Coquest

Your Daily Energy Report for November 4, 2025

Posted on 2025-11-04

Crude Oil

Crude Oil futures for December settled down -$.49 or -.803% at $60.56. Oil prices dipped on Tuesday, snapping a four-session winning streak as worries over excess supply persisted despite OPEC+’s plan to pause production growth early next year. The alliance confirmed a small output increase for December but intends to keep production steady from January through March, citing normal seasonal demand slowdowns. The move comes as analysts project a potential surplus in 2026, driven by expanding production from both OPEC members and other major producers. Even so, some market observers warned that supply risks haven’t disappeared, pointing to tighter U.S. restrictions on Russian oil companies Rosneft and Lukoil, along with continued attacks on Russian energy assets. In the latest incident, a Ukrainian drone strike reportedly ignited a tanker and damaged several loading installations at the Tuapse port on the Black Sea, where Rosneft operates a refinery.
 

Natural Gas

Natural Gas futures for December settled up $.077 or 1.805% at $4.343. Natural gas prices rose today, their highest level since March, driven by stronger seasonal heating demand and sustained LNG shipments to overseas markets. Forecasts pointing to colder-than-usual early winter temperatures lifted consumption expectations, while export flows to the nation’s eight major LNG terminals averaged about 16.6 billion cubic feet per day in October, marking a new record. European demand remained elevated as reduced Russian supplies and lower inventories at regional hubs increased reliance on U.S. gas. Meanwhile, the Trump administration has continued to advocate for additional U.S. energy import agreements in trade discussions with Asian nations. On the domestic side, production stayed robust near 107 bcfd, helping maintain ample supply.
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