Infinity Insights - Volume 12, Issue 23

AT-A-GLANCE SUMMARY

The front of the NYMEX natural gas curve sold through support at $6.50.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (August) support at 5.00 with resistance at 7.00.  Calendar year 2023 finds support at 5.20 with resistance at 6.75. Calendar year 2024 has support at 4.60 with resistance at 5.50.

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

Roadmap

NYMEX natural gas spot month (August) settled lower by $0.625 at $6.281 compared to last Friday.

Cal 2023
Calendar 2023 ended off by ≈$0.345 at $5.015.

Cal 2024
Calendar 2024 closed down by ≈$0.165 at $4.61.

The “Widow Maker” 2023

Volatility…

OUR TAKE ON THE MARKETS 

NYMEX Natural Gas

The front of the NYMEX natural gas curve sold through support at $6.50. Demand loss due to Freeport LNG outage pushes supply to storage. Extreme heat has not yet influenced prices but the chance of stress on the grid deserves consideration. 

WHOLESALE POWER

ERCOT

ERCOT grid management has avoided LMP spikes while maintaining grid integrity.

PJM

Natural gas leads the way.