Infinity Insights - Volume 12, Issue 12

AT-A-GLANCE SUMMARY

NYMEX natural gas continues to move higher.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (May) support 5.00 with resistance at 6.00. Balance of Calendar year 2022 finds support at 5.00 with resistance at 6.00. Calendar year 2023 has support at 4.05 with resistance at 4.50.

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

Roadmap

NYMEX natural gas spot month (May) settled up by $0.708 at $5.571 compared to last Friday’s close.

Balance of Cal 2022
Balance of Calendar 2022 closed higher by ≈$0.53 at $5.5575.

Cal 2023
Calendar 2023 settled up by ≈$0.2425 at $4.1775.

OUR TAKE ON THE MARKET

The “Widow Maker” 2023

Volatility…

NYMEX Natural Gas

NYMEX natural gas continues to move higher. Post-winter months have traditionally traded defensively - something today’s politically-influenced energy markets aren’t doing. Buying lower price is always a procurement objective, yet rising numbers can foil plans. Waiting on a pullback may be more wishful thinking than realistic expectation.

We have enjoyed low natural gas prices for a good while. We forget the $0.08+ power from the early teens. Today’s action looks to be a change that deserves respect.

WHOLESALE POWER

ERCOT

Prices continue to follow natural gas; the front outpacing the back.

PJM

Natural gas continues to set direction.