• Natural gas futures finished mixed last week, with the October 2026 NYMEX contract gaining $0.08 to $2.91 per MMBtu. Winter 2026–27 fell $0.07 to $3.29, while Summer 2027 declined $0.02 to $3.02.
• The EIA reported a 44-Bcf storage build, lifting inventories to 3,298 Bcf. Stocks are now 122 Bcf below year-ago levels but remain 118 Bcf above the five-year average.
• Power demand eased across most major markets as temperatures moderated, with especially sharp declines in California and more modest reductions across other markets.
• Real-time power pricing was volatile in PJM and MISO despite softer weekly demand, while CAISO pricing fell sharply alongside lower loads. Forward markets were generally firmer in PJM and MISO.
