Infinity Insights - Volume 12, Issue 11

AT-A-GLANCE SUMMARY

Spot month NYMEX natural gas continues to trade in a range between 4.20 and 5.00.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (April) support 4.20 with resistance at 5.10. Balance of Calendar year 2022 finds support at 4.25 with resistance at 5.10. Calendar year 2023 has support at 3.90 with resistance at 4.10.

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

Roadmap

NYMEX natural gas spot month (April) settled up by $0.138 at $4.863 compared to last Friday’s close.

Balance of Cal 2022
Balance of Calendar 2022 ended higher by ≈$0.11 at $5.0275.

Cal 2023
Calendar 2023 closed better by ≈$0.04 at $3.935.

OUR TAKE ON THE MARKET

The “Widow Maker” 2023

Volatility…

NYMEX Natural Gas

Spot month NYMEX natural gas continues to trade in a range between 4.20 and 5.00. The removal of Russian energy supply (crude, natural gas) has created a void that suppliers are trying to fill. The key question is,” how long will Russian exports be sanctioned?” It’s unlikely a forever thing, but Putin’s intransigence isn’t predictable. This is the background behind procurement decisions.

Immediately, natural gas is unlikely to make dramatic moves as its capacity for delivery is full. Down the line, however, capacity will increase to meet demand, so the back is firm. Trying to figure out the “what ifs” is an exercise in futility as the possibilities are broad. We believe locking in what’s offered and let others wear the risk of waiting. This best serves our client’s needs.

WHOLESALE POWER

ERCOT

Natural gas leads prices.

PJM

Natural gas leads prices.