Today in oil and natural gas markets:
ERCOT’s hourly fuel mix shows the transition to peak wind shoulder season is well underway, with average 24-hour wind generation in the first half of October up 29% from the final fourteen days of September.
The NOAA’s Oct 9 ENSO Diagnostic Discussion determined that La Niña conditions are present and favored to persist through December 2025 - February 2026, with a transition to ENSO-neutral likely in January-March 2026 (55% chance).
Global floating crude stocks rose about 6.8 mmb (+9.0%) over the past month (Sep 7 to Oct 5, 2025), led by sharp builds in the Middle East and the North Sea, partially offset by draws in Europe and West Africa.
