Coquest

Your Daily Energy Report for November 5, 2026

Posted on 2026-11-05

Crude Oil

Crude Oil futures for December settled up $2.40 or 2.724% at $90.52. Oil prices broke a three-session decline on Thursday, after plummeting over 8% to near two-month lows in the prior session. Market participants evaluated whether the Democratic sweep of Congress during the US midterm elections might enhance opportunities for a diplomatic settlement to the war with Iran. US Vice President JD Vance noted that public dissatisfaction regarding the conflict and Washington's relationship with Israel played a role in the Republicans' electoral losses, aligned with President Trump's pre-election remarks indicating no immediate plans for military escalation.

 

​​​​​Natural Gas

Natural Gas futures for December settled down -$.012 or -.406% at $2.947. Natural gas prices retreated on Thursday, relinquishing a portion of the previous session's gains. Underground storage across the U.S. expanded by more than typical historical rates last week, widening the inventory surplus relative to the five-year average, according to the latest EIA report. 

 

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