The Energy Buyer's Guide | 08.03.2026

Natural gas ends July on a downswing despite persistent heat.

Aug 03, 2026

∙ Paid

• Natural gas futures broke lower last week despite persistent summer heat. The August 2026 NYMEX contract expired Wednesday at $2.725 per MMBtu, nearly $0.50 below the July expiration.

• The EIA reported a 28-Bcf storage injection for the week ended July 24. Total inventories increased to 3,084 Bcf, widening the surplus to the five-year average to 185 Bcf.

• Power-generation demand strengthened as extreme heat settled over Texas and wind output declined, but summer gas burn continues to trail the levels recorded in 2024 and 2025.

• Forward power prices declined, led by losses in PJM, ISO-NE, and MISO. Real-time prices were mixed, with ERCOT falling sharply despite continued heat and elevated system demand.

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