Coquest

Your Daily Energy Report for March 19, 2025

Posted on 2025-03-19

Crude Oil

Crude Oil futures for April settled up $.26 or .389% at $67.16. Oil prices rose slightly on Wednesday but gains were limited amidst concerns over growing US crude inventories and economic uncertainty, despite ongoing geopolitical tensions. The most recent EIA report revealed a larger-than-expected 1.75 million barrel increase in national stockpiles. However, inventories at Cushing, Oklahoma, saw a decline, and fuel reserves also decreased. Market focus remains on the Federal Reserve’s upcoming policy decision and Jerome Powell’s remarks, alongside escalating trade tensions. Meanwhile, OPEC and its partners are preparing to boost production next month, adding to supply pressures. Concurrently, Putin rejected a Ukraine ceasefire but agreed to a US-supported proposal for Moscow and Kyiv to temporarily suspend strikes on each other’s energy infrastructure, potentially allowing Russian oil to return to global markets.
 

Natural Gas

Natural Gas futures for April settled up $.195 or 4.812% at $4.247. Natural gas prices jumped today, supported by strong LNG exports and a dip in daily production. Output dropped to a three-week low of 104.1 bcfd, though the monthly average remains above February’s peak. LNG shipments also reached new highs, averaging 15.7 bcfd in March as operations expanded at Venture Global’s Plaquemines LNG facility. Additionally, forecasts indicate cooler temperatures next week, which could drive up demand and lead to increased storage withdrawals. Current storage levels are already 12% below typical averages due to severe cold earlier this year. Looking further ahead, temperatures are projected to stay around seasonal norms through early April.

Continue reading the full Coquest Daily Report.

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