• Prompt-month natural gas futures saw the steepest weekly decline since February, with November falling $0.48 per MMBtu and Winter 2026-27 slipping below $3.00 for the first time since 2021.
• The EIA reported a 77-Bcf storage injection, narrowing the surplus to the five-year average to just 35 Bcf, the smallest since March.
• LNG exports reached a new record high, averaging 20.6 Bcf per day, as new capacity continued to ramp at Golden Pass; domestic production rebounded back above 111 Bcf per day.
• Electricity demand declined sharply across much of the country, contributing to lower real-time power prices in most markets.
