U.S. crude oil and natural gas futures experienced a mixed week ending August 15, 2025, with prices generally declining before a rebound on August 18. West Texas Intermediate (WTI) crude front-month prices fell by $1.08 (2%) to $62.80, and Brent crude front-month prices decreased by $0.74 (1%) to $65.85 during the week. The 12-month spreads for both WTI and Brent narrowed by $0.79 (301%) and $0.57 (31%), respectively, indicating potential downward price pressure. U.S. natural gas futures also declined, with front-month prices dropping $0.07 (2%) to $2.92 and the October contract falling $0.11 (3%) to $3.37. Net long positions for WTI and Brent crude fell sharply for the week ending August 8, with WTI net longs down 30 million barrels (38%) and Brent net longs down 34 million barrels (14%). Notably, speculators held the first-ever recorded net short position in WTI crude oil across CME and ICE combined exchanges. On August 18, crude futures rebounded, with WTI settling at $63.42 per barrel, up 62 cents (0.99%), and Brent crude settling at $66.60 per barrel, up 75 cents (1.14%). Tanker spot rates showed minor changes, with VLCC rates flat at $39,000 per day, Suezmax down 3% to $45,000, and Aframax down 1% to $35,000. Overall, the data reflects volatility and cautious positioning in the energy commodities market amid shifting supply and demand expectations.