Mid-Week Natural Gas Report - August Futures (NGQ26 @ 3.213) | 07.01.2026
- Timothy Beggans
- Jul 1
- 2 min read
Timestamps
0:00 – Introduction & Market Snapshot (August Futures)
0:21 – Storage Expectations & Bearish Trends
0:42 – Hourly Chart Analysis & Support Levels
1:03 – Front-to-Back Spreads & Winter Strip
1:47 – ERCOT Grid Demand & Renewables Mix 2:17 – Power Price Analysis (PJM, MISO, NYISO)
2:52 – US Weather Map: Extreme Heat Index
3:36 – Heat Risk Forecast (States Impacted)
4:28 – European Market: Temperature Anomalies & Storage
5:31 – Asia Weather Outlook
5:58 – Global LNG Update: Qatar Production
6:25 – US LNG Export Facility Status (Cameron, Sabine Pass, Corpus Christi)
7:32 – Golden Pass Commissioning Update
7:55 – US Nuclear Fleet Offline Status
8:17 – Tropics & Saharan Air Layer Update
8:58 – Recap & Closing Remarks
Video Description
In today’s Mid-Week Natural Gas Report for July 1, 2026, Tim Begins, President of Elk Trading Company, breaks down the current state of the August natural gas contract and the factors driving market volatility.
Key Highlights:
Market Snapshot: August futures are currently trading around 3.205, down nearly 7 cents. We analyze the RSI and key support levels to watch.
Storage Outlook: Ahead of tomorrow's report, expectations sit at +81 to +83 BCF—bearish compared to both last year and the 5-year average.
Extreme Heat: We examine the "scorching heat" across the U.S., with over 90 million people under extreme heat risk by Friday, particularly impacting PJM and MISO power prices.
Infrastructure & LNG: Updates on US LNG export capacities, commissioning work at Golden Pass, and a look at the US nuclear fleet's current offline status.
Global Markets: A check-in on European storage levels (currently 48.6% full) and the temperature anomalies expected in the coming weeks.
Important Note: The market will have an early close this Friday, July 3rd, ahead of the July 4th weekend.
Stay Connected: 📊 Check out our latest charts and data on the Elk Trading platform. 💬 Let us know your thoughts on the winter strip and El Niño concerns in the comments below! 👍 Like and Subscribe for daily natural gas market insights.
Comments