Energy Market Pulse: June 2, 2025

OGOilGasEnergyNEWs

Author

The Valve Guy
June 01, 2025

🔥 Natural Gas Update: Prices Dip Amid Mild Weather

U.S. natural gas futures experienced a decline last week, settling lower due to cooler spring temperatures and substantial storage builds. The market remains under pressure, with prices slipping below key technical levels, indicating potential for further downside unless demand increases. WSJ

🛢️ Oil Market Dynamics: OPEC+ Decisions and WTI Fluctuations

WTI crude oil prices faced resistance around $62.75, consolidating near $61.50. Despite attempts to break higher, the broader trend remains neutral-to-bearish. Traders Union

OPEC+ announced plans to increase oil production in July, a decision that could add complexity to market dynamics. Reuters

📈 Corporate Moves: EOG Resources Expands in Utica Shale

EOG Resources announced a $5.6 billion acquisition of Encino Acquisition Partners, expanding its footprint in the Utica shale basin. The deal adds 675,000 net core acres to EOG's portfolio, enhancing its resource base and positioning the company for increased production and cash flow. Reuters+1WSJ+1

🌍 Global Energy Developments

  • Mexico's Natural Gas Rates: Platts will update Mexico's natural gas transportation rates, incorporating current pipeline tariffs and exchange rates. S&P Global

  • Angola's Production Goals: Etu Energias targets 80,000 barrels per day by 2030 and has joined the Angola Oil & Gas 2025 conference as a Gold Sponsor, aligning with national production objectives. Energy Capital & Power

📊 Market Snapshot

🔗 Sources

  1. U.S. Natural Gas Futures Fall Awaiting Hotter Weather - WSJ

  2. Natural Gas Weekly Price Analysis - FXEmpire

  3. Platts to Update Mexico Natural Gas Transportation Rates - S&P Global

  4. OPEC+ Oil Producers Stick to Their Guns with Another Big Hike for July - Reuters

  5. WTI Crude Oil Price Faces Key Resistance at $62.75 - Traders Union

  6. WTI Crude Oil Pulls Back Off Session Highs to Trade at $60.50 - FXDailyReport

  7. EOG Resources to Acquire Encino Acquisition Partners for $5.6 Billion - Reuters

  8. Etu Energias Targets 80,000 BPD, Joins AOG 2025 as Gold Sponsor - Energy Capital & Power