Infinity Insights - Volume 12, Issue 32

AT-A-GLANCE SUMMARY

Two sides of the same curve: The front fell $2+ while the back made new highs.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (October) support at 7.50 with resistance at 8.50. Calendar year 2023 finds support at 5.40 with resistance at 6.75. Calendar year 2024 has support at 4.80 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 (October) settled lower by $1.273 at $7.996

Compared to close of 8/26

Cal 2023
Calendar 2023 finished down by ≈$0.4275 at $5.87

Compared to close of 8/26

Cal 2024
Calendar 2024 settled lower by ≈$0.1725 at $5.01

Compared to close of 8/26

The “Widow Maker” 2023

Volatility…

OUR TAKE ON THE MARKETS 

NYMEX Natural Gas
Two sides of the same curve: The front fell $2+ while the back made new highs. Volatility, expected in the front of the curve, continues high. Those looking for locking price struggle with a back of the curve that has not retreated meaningfully. Waiting has not provided relief.

Looking ahead, winter is fast approaching. Opportunities will be limited. Plan accordingly.

WHOLESALE POWER

ERCOT

Natural gas leads the way.

PJM

Natural gas leads the way.