Infinity Insights - Volume 12, Issue 16

AT-A-GLANCE SUMMARY

Volatility continues to rule the front of the curve with May trading above $8 to $6.35 in the last 10 days.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (June) support 6.50 with resistance at 7.50.  Calendar year 2023 finds support at 4.75 with resistance at 5.65. Calendar year 2024 has support at 3.90 with resistance at 4.40.

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Roadmap

NYMEX natural gas spot month (June) ended higher by $0.581at $7.244 compared to last Friday.

Cal 2023
Calendar 2023 settled up by ≈$0.3875 at $4.95 compared to last Friday’s close.

Cal 2024
Calendar 2024 ended higher by ≈$0.2275 at $4.095 compared to last Friday’s close.

The “Widow Maker” 2023

 Volatility…

OUR TAKE ON THE MARKETS

NYMEX Natural Gas

Volatility continues to rule the front of the curve with May trading above $8 to $6.35 in the last 10 days. The back is much quieter and has value at $4 or below. Noteworthy: the calendar strips have reversed off recent highs, the first since mid-March, which we view as buying opportunity

WHOLESALE POWER

ERCOT

Power prices following natural gas.

PJM

Power prices following natural gas.