Infinity Insights - Volume 13, Issue 5

AT-A-GLANCE SUMMARY

Lack of demand leads natural gas prices lower.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (March) support at 2.00 with resistance at 3.25. Balance of Calendar year 2023 finds support at 2.80 with resistance at 3.20. Calendar

year 2024 has support at 3.50 with resistance at 4.00.

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

Roadmap

NYMEX natural gas spot month (March) settled lower by $0.439 at $2.41

Compared to close last Friday

Cal 2023

Balance of Calendar 2023 ended lower by ≈$0.17 at $3.205

Compared to close last Friday

Cal 2024

Calendar 2024 finished down by ≈$0.185 at $3.695

Compared to close last Friday

The “Widow Maker” 2024

Volatility…

OUR TAKE ON THE MARKETS 

NYMEX Natural Gas

Lack of demand leads natural gas prices lower. The front of the curve is at significant support, but the back is breaking long-term support. The path to higher numbers is blocked by a mild winter soon ending.

Given the decay of pricing, structure opportunities are evident (given some risk tolerance). As mentioned above. The back of the curve is moving lower. If the front rallied, the back will likely trade defensively. Likewise, should trade remain lackluster, back degradation probable.

As mentioned in previous “Insights”, patience is important.

WHOLESALE POWER

ERCOT

Natural gas leads the way.

PJM

Natural gas leads the way.