The Energy Buyer's Guide | 09.22.2025

Front-month natural gas pushes lower for the second consecutive week.

- October NYMEX settled $0.05 lower after a failed rally above $3.00 per MMBtu; Winter ’25–26 and Summer ’26 inched higher to $3.74 per MMBtu.

- Storage inventories surged 90 Bcf, the largest build since June, lifting stocks to 3,433 Bcf — virtually in line with last year and 204 Bcf above the five-year norm.

- Real-time power prices strengthened on late-season cooling demand, with MISO up more than $8 per MWh to $39 and PJM climbing $6 into the low-$30s.

- Spot gas markets were mostly steady, but Permian weakness drove the South nearly $1.00 lower as pipeline congestion and maintenance pushed prices deep into negative territory.