The Energy Buyer's Guide | 09.02.2025
Natural gas rallies in the face of bearish near-term fundamentals.
- Natural gas futures firmed surrounding the September NYMEX contract expiration to finish the week just below $3.00 per MMBtu on the front of the curve. Winter 2025-26 advanced to $3.82.
- Storage inventories rose 18 Bcf to 3,217 Bcf, widening the deficit to last year while keeping stocks 154 Bcf above the five-year norm.
- Domestic production posted a new record weekly high, averaging 107.5 Bcf per day according to the revised dataset.
- Weather forecasts remain unseasonably cool into early September, cutting national cooling demand to October-like levels and limiting near-term support.
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