NVDA +8.7% (4.2σ) | HH $2.91 | 9 others
Weather
6-10 Day Outlook For Sep 03 - 07 2026 map
8-14 Day Outlook For Sep 05 - 11 2026 map
Gas-weighted HDD, next 7 days: 0 total (0, 0, 0, 0, 0, 0, 0)
Pop-weighted CDD, next 7 days: 86 total (11, 11, 12, 13, 13, 13, 13)
HDD/CDD vs. normal: no free source (CPC normals file not located; forecast level shown instead)
Natural gas
Henry Hub front month $2.91 (+2.3%, 1.1σ)
↳ Henry Hub rose 2.3% as weather forecasts showed cooling in Arizona and a heat shift eastward, supporting demand expectations after the front-month contract held above $2.84.
Front/second (V26/X26): -0.157 - contango
Widow-maker H27/J27: +0.136 (H 2.949 / J 2.813)
Storage 3184 Bcf (+15 w/w, +149 vs 5-yr, -33 vs yr-ago)
Production (marketed, monthly proxy 2026-05): 121.8 Bcf/d, +3.8% y/y
Regional basis (Waha, Algonquin, SoCal, TZ6, AECO): no free source (no free daily marks)
LNG feedgas noms (Sabine, Corpus, Freeport, Plaquemines): no free source (pipeline EBB data is paid)
Power burn (daily): no free source (weekly/monthly only)
Baker Hughes rig count: no free source (published as web XLSX, fetch not wired yet)
Power
ERCOT North DA $59.85 (prev $45.84) - heat rate 20.6 (prev 16.1) - spark $38.05 (prev $24.52)
PJM West DA $50.20 (prev $40.04) - heat rate 17.3 (prev 14.1) - spark $28.40 (prev $18.73)
CAISO SP15 DA $88.29 (prev $71.39) - heat rate 30.4 (prev 25.1) - spark $66.48 (prev $50.07)
Global gas & carbon
TTF €68.10/MWh (~$23.13/MMBtu) +3.8%
JKM $23.41/MMBtu +2.0%
Cargo arb JKM−HH: $20.50/MMBtu; TTF−HH $20.22
CCA / RGGI allowances: no free source (no free daily marks)
Crude
WTI $83.53 (+1.6%, 0.6σ)
Brent $89.70 (+2.1%, 0.7σ)
Energy equities
NVDA $227.98 (+8.7%, 4.2σ)
Nvidia surged 8.7% after analysts predicted its data center business alone will exceed $100 billion in a single quarter this fiscal year, reflecting sustained AI infrastructure demand. Wall Street separately speculated SpaceX may be driving incremental GPU purchases, suggesting deployment beyond traditional cloud providers. Amazon's commitment to 2 million additional Nvidia GPUs—despite initial downward trading pressure—underscores the scale of ongoing hyperscaler capex commitments that underpin data center revenue acceleration. The transmission to energy markets runs through power demand: each GPU cluster requires substantial electricity. This hyperscaler GPU expansion directly increases baseline load forecasts for grid operators and power brokers pricing multi-year contracts. Watch whether utility earnings calls reference AI-related load growth acceleration beyond current models, which would signal whether consensus power demand projections already embed this GPU scaling or face upside revision.
- Prediction: Nvidia's Data Center Business Alone Clears $100 Billion in a Quarter This Fiscal Year - Currently.com
- Nvidia’s revenue forecast is so huge that Wall Street wonders if SpaceX is the reason - MarketWatch
- Prediction: Nvidia's Data Center Business Alone Clears $100 Billion in a Quarter This Fiscal Year - The Motley Fool
LNG $280.80 (-1.2%, 0.6σ)
↳ LNG declined 1.2% amid scrutiny over Cheniere Energy's $340M tax incentive following questioning by US Senators.
DVN $47.12 (+0.6%, 0.3σ)
↳ Devon Energy gained 0.6% on modest activity including CEO compensation adjustments following the Coterra merger and institutional position-building.
RRC $41.64 (+0.2%, 0.1σ)
↳ Range Resources was flat despite maintaining its $0.10 quarterly dividend declaration, with valuation metrics suggesting the stock remains undervalued.
VST $139.81 (-0.2%, 0.1σ)
↳ Headlines provided do not explain Vistra's modest 0.2% decline, consisting only of references to tokenized stock converters with no material news.
Quiet: KMI -1.5% · CEG +1.0% · NRG -1.5% · TLN -0.6% · WMB -0.3% · EQT -0.0% · AR -0.0%
Friday recall
Close the email and answer out loud. Answers at the very bottom.
- Where did Henry Hub close each day this week?
- What's the widow-maker (Mar/Apr) spread into the weekend?
- Where did SP15 day-ahead print this week?
- What was Thursday's storage number vs. the 5-year?
- HH: Mon 2.78 Tue 2.77 Wed 2.84 Thu 2.91
- H/J: +0.136
- SP15: Mon 52.60 Tue 70.07 Wed 71.39 Thu 88.29
- Storage: +15 Bcf to 3184 (+149 vs 5-yr)