The Energy Buyer's Guide | 08.04.2025
Natural gas shifts sideways as support near $3 holds strong.
- Natural gas futures eased modestly, with September NYMEX settling at $3.08 per MMBtu after August posted the lowest expiration of 2025 so far
- The EIA reported a 48‑Bcf storage injection for the week ending July 25—more than double the prior week’s build—expanding the surplus to the five‑year average and shrinking the year‑on‑year deficit to its smallest since January.
- Power generation demand hit its highest weekly average of the summer, driven by late‑July heat, but 2025 remains on track for the first year‑over‑year decline since 2020.
- Forward power prices were mixed, with ERCOT Cal ’25 falling nearly $7/MWh to a new low for the year while ISO‑NE and NYISO posted small gains on stronger regional gas prices.
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