The Energy Buyer's Guide | 06.23.2025

Natural gas futures break to the upside in advance of major heat wave.

Jun 23, 2025

∙ Paid

- Natural gas futures rallied sharply, with July NYMEX gaining $0.27 to settle at $3.85 per MMBtu—breaking out of the recent range and briefly trading above $4.00.

- The EIA reported a 95-Bcf storage injection for the week ending June 13, bringing total inventories to 2,802 Bcf—162 Bcf above the five-year average and 233 Bcf below last year.

- Forward power prices surged across eastern markets, with June contracts spiking in PJM, MISO, NYISO, and ISO-NE ahead of next week’s extreme heat.

- PJM is forecasting historic peak loads early this week, with demand expected to test 160 GW as extreme heat settles over the East and Midwest.

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