Coquest

Your Daily Energy Report for December 10, 2025

Posted on 2025-12-10

Crude Oil

Crude Oil futures for January settled up $.21 or .361% at $58.46. Oil prices rebounded sharply from initial declines on Wednesday, amidst mounting supply concerns following major geopolitical news. The sudden price surge came after reports confirmed the US had seized an oil tanker off the coast of Venezuela, marking a significant escalation that amplified the risk that additional tankers could also be seized or sanctioned. Earlier in the day, crude prices fell due to sustained fears of excess global supply after US energy officials projected domestic crude output would climb to a record 13.6 million bpd this year. However, supportive inventory data also helped the rebound, as the latest EIA data showed US crude inventories fell by 1.812 million barrels last week, though gasoline and distillate stockpiles rose sharply. Investors are now looking ahead to the keenly awaited IEA and OPEC reports later this week for clearer, long-term guidance on the global supply–demand balance.

​​​​​Natural Gas

Natural Gas futures for January settled up $.021 or .459% at $4.595. Natural gas prices increased today, managing a modest rebound from recent sharp declines primarily due to short-covering activity near a key technical support level. However, the overall bearish pressure persists due to unseasonably warmer weather forecasts, particularly across major US heating regions, reducing expected demand for the immediate winter season. This weakness is compounded by persistently strong supply, with US dry gas output hovering near record highs, creating an entrenched supply overhang that outweighs consumption. The latest EIA outlook confirms this structural imbalance, maintaining high production forecasts for next year despite slightly higher demand projections and growing LNG export volumes.
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