Infinity Insights - Volume 12, Issue 20

AT-A-GLANCE SUMMARY

Spot month NYMEX natural gas (July) made a new high, backed off $1, then returned to $9 level, where it again met resistance.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (July) support at 8.00 with resistance at 9.00.  Calendar year 2023 finds support at 5.60 with resistance at 6.25. Calendar year 2024 has support at 4.45 with resistance at 5.00.

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

Roadmap

NYMEX natural gas spot month (July) settled up by $0.345 at $8.523 compared to Friday, May 20th.

Cal 2023
Calendar 2023 settled up by ≈$0.5275 at $5.8625 compared to Friday, May 20th.

Cal 2024
Calendar 2024 finished higher by ≈$0.4725 at $4.84 compared to Friday, May 20th.

The “Widow Maker” 2023

Volatility…

OUR TAKE ON THE MARKETS 

NYMEX Natural Gas

Spot month NYMEX natural gas (July) made a new high, backed off $1, then returned to the $9 level where it again met resistance. It is the poster child for volatility. The back of the curve (calendar strips) continues to make new highs with little volatility. We see nothing that will change these patterns.

WHOLESALE POWER

ERCOT

Heat rates have firmed even with natural gas rising.

PJM

Continues to follow natural gas.