Coquest

Your Daily Energy Report for November 4, 2026

Posted on 2026-11-04

Crude Oil

Crude Oil futures for December settled down -$7.97 or -8.294% at $88.12. Oil prices tumbled on Wednesday, stretching losses into a third straight session and dropping to one-month lows. Selling pressure intensified as market participants weighed de-escalation prospects surrounding the US-Israeli confrontation with Iran following the Republican Party's midterm election setbacks. President Donald Trump indicated that Washington holds no immediate plans for additional military strikes while emphasizing that the US stands ready to respond if required.

 

​​​​​Natural Gas

Natural Gas futures for December settled up $.064 or 2.211% at $2.959. Natural gas prices advanced today, expanding on prior session gains as production pullbacks countered headwinds from unseasonably mild weather and reduced LNG export activity. Wellhead output scaled down as drillers responded to a persistently weak price landscape, helping offset forecasts of above-average temperatures covering most of the country through November 18. 

 

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