• Natural gas futures moved lower last week, with the October 2026 NYMEX contract falling $0.14 to $2.83 per MMBtu. Winter 2026–27 declined $0.05 to $3.36, while Summer 2027 edged $0.01 higher to $3.05.
• The EIA reported a 40-Bcf storage build, lifting inventories to 3,254 Bcf. Stocks are now 79 Bcf below year-ago levels but remain 148 Bcf above the five-year average.
• Power demand eased across much of the country as temperatures moderated, with peak loads declining across PJM, MISO, and the Northeast.
• Real-time power pricing fell sharply in PJM and MISO, while CAISO posted the largest increase. Forward pricing was mixed, with generally firmer Cal 2027 values.
