• Natural gas futures were mixed last week, with the October 2026 NYMEX contract gaining $0.09 to $2.98 per MMBtu. Winter 2026–27 was unchanged at $3.40, while Summer 2027 slipped $0.02 to $3.04.
• The EIA reported a 30-Bcf storage build, lifting inventories to 3,214 Bcf. Stocks are now 50 Bcf below year-ago levels but remain 160 Bcf above the five-year average.
• Widespread heat drove elevated power loads early in the week, although demand faded as the week progressed. Gas-fired generation came in 6.5 Bcf per day above last year.
• Real-time power pricing increased sharply in PJM and MISO, while ERCOT and CAISO retreated from the elevated levels seen the previous week.
