Infinity Insights-Volume 10, Issue 17

AT-A-GLANCE SUMMARY

Spot NYMEX natural gas (June) appears to be in a trading range of 1.80 and 2.15.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (June) has support at 1.80 with resistance at 2.15. Calendar year 2021 finds support at 2.55 with resistance at 2.90. Calendar year 2022 has support at 2.35 with resistance at 2.60.RoadmapNYMEX natural gas spot month (June) finished off by $0.005at $1.89 compared to last Friday’s close.Calendar 2021Calendar 2022 higher by ≤$0.0175 at $2.516.Calendar 2022Calendar 2022 was up by ≤$0.0265 at $2.4985.

OUR TAKE ON THE MARKET

NYMEX Natural Gas

Spot NYMEX natural gas (June) appears to be in a trading range of 1.80 and 2.15. Curve prices remain steady albeit quiet. Prices from January 2021 are at or near their highs, so sell-offs are in the cards but we doubt there will be many fireworks. Indicators remain bullish.

WHOLESALE POWER

ERCOT

Heat rates are offsetting natural gas rallies; prices are steady.

PJM

Power prices continue to follow natural gas.