Infinity Insights - Volume 12, Issue 15

AT-A-GLANCE SUMMARY

Balance of 2022 NYMEX natural gas is where most confusion, volatility, and risk reside.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (May) support 6.35 with resistance at 7.00.  Calendar year 2023 finds support at 4.40 with resistance at 5.00. Calendar year 2024 has support at 3.70 with resistance at 4.25.

Roadmap

NYMEX natural gas spot month (May) finished up by $0.256 at $6.534 compared to close on Friday, April 8th.

Cal 2023
Calendar 2023 finished lower by ≈$0.295 at $4.5575 compared to close on Friday, April 8th.

Cal 2024

Calendar 2024 settled off by ≈$0.202 at $3.08675 compared to close on Friday, April 8th.

The “Widow Maker” 2023

Volatility…

OUR TAKE ON THE MARKETS

NYMEX Natural Gas

Balance of 2022 NYMEX natural gas is where most confusion, volatility, and risk reside. Calendar strip 2023 is trading near $5 with 2024 out trading slightly above $4. The back of the curve at $4 represents value. The front of the curve represents challenge, particularly in decisions to float or lock. This decision turns on your risk tolerance.

WHOLESALE POWER

ERCOT

Prices rise with natural gas.

PJM

Prices rise with natural gas.