Coquest

Your Daily Energy Report for November 5, 2025

Posted on 2025-11-05

Crude Oil

Crude Oil futures for December settled down -$.96 or -1.585% at $59.60. Oil prices slipped on Wednesday, deepening losses from the prior session as persistent worries about excess supply and fading demand pressured the market. The latest figures from the U.S. Energy Information Administration showed domestic crude inventories jumping by roughly 5.2 million barrels last week, the biggest increase since July, even as fuel stocks moved lower. Ongoing output growth from both OPEC+ members and independent producers has reinforced concerns that the global market could be heading toward another surplus. The producer alliance recently approved a modest production boost for December but intends to hold output steady through early 2026 in response to weakening consumption trends. In other developments, India’s Reliance Industries reportedly sold Iraqi crude to European buyers, drawing attention amid stricter U.S. sanctions on major Russian oil companies.
 

Natural Gas

Natural Gas futures for December settled down -$.111 or -2.556% at $4.232. Natural gas prices dipped today, as updated forecasts pointed to milder conditions following next week’s brief cold spell. Traders turned cautious ahead of Thursday’s EIA storage report, which is expected to show a smaller-than-usual inventory build that could still help underpin recent price strength. A Wall Street Journal poll of analysts projects an injection of about 31 bcf, a figure that would narrow the storage surplus versus the five-year average to 160 Bcf, down from 171 Bcf the prior week. Demand has seen a modest rise, averaging 77.4 bcfd, up nearly 4% from a year earlier, while LNG exports have been the standout factor, climbing to a record 17.2 bcfd. That marks a week-over-week gain of more than 9%, tightening supplies further, particularly if another cold stretch boosts heating consumption.
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