Thursday, December 4, 2025 — EIA Inventory Report. Crude inventories rose 0.6M barrels to 427.5M. Gasoline surged 4.5M barrels. Natural gas at $4.84. WTI $59.23, Brent $62.97.
Show Notes
Welcome to Energy Markets Daily. Thursday, December 4, 2025 — EIA Inventory Report. The data just dropped. Let's break it down. **CRUDE OIL INVENTORIES** Commercial crude inventories rose 0.6 million barrels to 427.5 million barrels. That's 3% below the five-year average. The API had estimated a draw of 2.48 million barrels. The EIA came in bearish. Cushing, Oklahoma stockpiles unchanged at 21.8 million barrels. US crude production dipped 20,000 barrels per day to 13.814 million barrels per day. Imports fell 456,000 barrels per day to 6.0 million barrels per day. **PRODUCT BUILDS** Gasoline inventories surged 4.5 million barrels, now 2% below five-year average. Distillate stocks rose 2.1 million barrels, still 7% below average. Refineries running hot at 94.1% capacity. **NATURAL GAS STORAGE** Expected 16 Bcf withdrawal vs 30 Bcf last year and 43 Bcf five-year average. Inventories at 3,935 Bcf, 4% above five-year average. January NYMEX natural gas closed at $4.84. Markets watching mid-December temperatures. **PRICE ACTION** WTI rose to $59.23, up 0.08%. Brent at $62.97, up 0.49%. Ukraine struck the Druzhba pipeline in Russia's Tambov region. Stalled peace talks lowered expectations of restored Russian flows. US threats against Venezuela's oil sector added risk premium. But weak demand and oversupply capped gains. **WHAT IT MEANS** Crude builds continue. Product stocks rising. Bearish signal for prices. Natural gas holding firm on weather uncertainty and LNG demand. The decoupling thesis holds: Crude oversupplied, nat gas structurally tight. **FINAL WORD** Inventories rose. Prices flat. Oversupply wins. Trade the data. Not the headlines. For inquiries: energymarkets@protonmail.com. Subject: Energy Capital. This is Energy Markets Daily. Friday: Weekly Recap.
What is Energy Markets Daily?
Energy Markets Daily delivers essential intelligence for global energy capital. Hosted with institutional authority, this daily brief covers WTI/Brent crude analysis, natural gas markets, energy M&A activity, drilling intelligence, and the geopolitical developments that drive billion-dollar energy decisions.
Providing superior energy market intelligence sourced from the same trading floors, boardrooms, and energy desks where your competition operates. Essential listening for oil & gas executives, energy investors, and institutional capital allocating $100M+ in the energy sector.
Contact: energymarkets@protonmail.com
Disclaimer: This podcast is powered by Daily Dominance and utilizes artificial intelligence technology for content creation and production. The views and opinions expressed in this show are those of the hosts and guests and do not necessarily reflect the official policy or position of Daily Dominance. All content is generated with the intent to provide informative and engaging material; however, the accuracy and reliability of the information presented may vary. Listeners are encouraged to conduct their own research and consult with professionals before making any decisions based on the content of this podcast. By listening to this podcast, you acknowledge and agree to these terms.