The Energy Buyer's Guide | 07.06.2026

Natural gas futures drift lower despite major heat wave.

• Natural gas futures moved lower last week despite the strongest heat-driven demand of the summer, as a bearish storage report and fading heat capped bullish momentum.

• The EIA reported an 87-Bcf storage injection, expanding the surplus versus the five-year average to 175 Bcf and narrowing the year-over-year deficit to just 23 Bcf.

• Power generation demand for natural gas hit new seasonal highs last week, averaging 45 Bcf per day and spiking to as high as 50 Bcf late in the week.

• Eastern and Midwest power markets saw their strongest demand of the season, including two days with peak loads above 160 GW in PJM, driving sharp increases in real-time prices.