1229 ET - Power-sector natural gas use was below year-ago levels despite the heat wave across the East and Midwest at the end of June, "highlighting the impact of higher gas prices, rising renewables, and a shifting generation stack," Andy Huenefeld of Pinebrook Energy Advisors says in a note. "The dip in demand despite similar weather suggests that price sensitivity and structural changes are capping gas usage during peak load events." But the market remains reactive to weather forecasts, "particularly in Texas, where any meaningful heat wave could tighten balances quickly," he adds. Nymex natural gas is up 1.1% at $3.447/mmBtu. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
July 07, 2025 12:30 ET (16:30 GMT)
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