Infinity Insights - Volume 12, Issue 18

AT-A-GLANCE SUMMARY

Spot NYMEX natural gas continues to have significant volatility.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (June) support 7.00 then 6.35 with resistance at 8.25. Calendar year 2023 finds support at 5.10 with resistance at 6.00. Calendar year 2024 has support at 4.05 with resistance at 4.45.

Roadmap

NYMEX natural gas spot month (June) ended lower by $0.38 at $7.663 compared to last Friday.

Cal 2023
Calendar 2023 finished down by ≈$0.20875 at $5.145.

Cal 2024
Calendar 2024 fell by ≈$0.1125 at $4.21.

The “Widow Maker” 2023

Volatility…

OUR TAKE ON THE MARKETS

NYMEX Natural Gas

Spot NYMEX natural gas continues to have significant volatility. The back of the curve trades without the degree of volatility experienced upfront. Decisions, as to lock or float, should remember that prices have been dramatic even though summer has not begun.

WHOLESALE POWER

ERCOT

Heat rates have moved higher with a pullback of natural gas.

PJM

Continues to follow natural gas.