Infinity Insights - Volume 13, Issue 7

AT-A-GLANCE SUMMARY

The flat/sideways trade for the front of the natural gas curve continues, this weakness attributable to no weather demand in what is left of winter.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (March) support at 2.00 with resistance at 3.25. Balance of Calendar year 2023 finds support at 2.80 with resistance at 3.20. Calendar

year 2024 has support at 3.50 with resistance at 4.00.

For a look at our monthly market reports, visit Infinity Power Partner’s Market Overview.

Roadmap

NYMEX natural gas spot month (March) closed lower by $0.239 at $2.275

Compared to close last Friday

Cal 2023

Balance of Calendar 2023 settled down by ≈$0.2175 at $3.06

Compared to close last Friday

Cal 2024

Calendar 2024 was off by ≈$0.08 at $3.605

Compared to close last Friday

The “Widow Maker” 2024

Volatility…

OUR TAKE ON THE MARKETS 

NYMEX Natural Gas

The flat/sideways trade for the front of the natural gas curve continues as this weakness attributable to no weather demand in what is left of winter. The deferred curve is converging lower ($4 support has been overcome).

While we have mentioned our expectations for price, we will reiterate to remind what those expectations are:

• Curve dynamics have taught us what will likely occur with sharp moves, up or down, and where paradoxical opportunities may arise.

• Building a base of support for natural gas will take time (be patient).

• Select a structure that compliments your outlook whose risk management is transparent.

WHOLESALE POWER

ERCOT

No feature other than natural gas.

PJM

No feature other than natural gas.