Coquest

Your Daily Energy Report for November 6, 2025

Posted on 2025-11-06

Crude Oil

Crude Oil futures for December settled down -$.17 or -.285% at $59.43. Oil prices fell on Thursday as traders digested Saudi Arabia’s latest pricing move and weighed ongoing geopolitical risks. The state-run producer trimmed its official selling prices for Asia in line with forecasts, reinforcing expectations of softer regional demand. Meanwhile, U.S. sanctions tightening against Russian oil, coupled with continued Ukrainian strikes on Russian infrastructure, kept supply risks in focus. India, one of the world’s largest importers, has been diversifying purchases as sanctions complicate Russian flows, with top refiner Reliance reportedly redirecting some Middle Eastern barrels instead. Broader output gains from OPEC+ members and other major producers have fueled worries about an oversupplied market, though crude has clawed back part of last week’s losses since Washington targeted Moscow’s leading energy firms.
 

Natural Gas

Natural Gas futures for December settled up $.125 or 2.954% at $4.357. Natural gas prices moved higher as forecasts for a chilly weekend boosted short-term demand expectations, while the latest government storage data came in close to projections. The EIA reported a 33 Bcf addition to inventories last week, bringing total storage to 3,915 Bcf, about 4% above the five-year norm. It was the smallest build since mid-August, signaling the end of the injection season as cooler conditions begin to lift consumption. Meanwhile, LNG export flows have averaged 17.4 Bcfd so far in November, topping October’s record pace, with continued strong demand from Europe and Asia as both regions seek long-term supply security away from Russia. Short-term demand is expected to strengthen early next week amid a cold front sweeping across northern states.
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