Coquest

Your Daily Energy Report for November 7, 2025

Posted on 2025-11-07

Crude Oil

Crude Oil futures for December settled up $.32 or .538% at $59.75. Oil prices edged up on Friday but were still set to record a second consecutive weekly decline as concerns over excess supply persisted. Output from OPEC+ climbed last month with several producers bringing previously curtailed volumes back online, while non-member countries also expanded production. Reflecting the softer market, Saudi Arabia cut its official selling prices for Asian customers for December. Demand indicators have remained sluggish, adding pressure to prices. At the same time, geopolitical tensions kept supply risks in play, the U.S. continues to restrict purchases of Russian oil, and Ukrainian strikes on Russian energy facilities have disrupted flows. Major importers like India are diversifying procurement strategies, with Reliance reportedly reselling some Middle Eastern cargoes, while Chinese refiners have temporarily paused spot purchases of Russian crude shipped by sea.
 

Natural Gas

Natural Gas futures for December settled down -$.042 or -.964% at $4.315. Natural gas prices slipped on Friday but still notched a third straight weekly gain, supported by forecasts for the season’s first significant cold spell set to boost heating demand early next week. Weather models point to a strong cold front sweeping across the western and northern states from Sunday through Tuesday, with temperatures expected to fall into the upper teens and 30s. On the supply side, output in the Lower 48 hit a record 110.1 Bcf per day on Thursday, about 8% higher than the same period last year, according to BloombergNEF. LNG feedgas demand edged up to 17 Bcf per day, but robust production continues to cap price gains. The latest EIA report showed a smaller-than-expected increase in gas storage, hinting at gradually tightening fundamentals.
​​​​
Continue reading the full Coquest Daily Report.

---