Infinity Insights - Volume 12, Issue 21

AT-A-GLANCE SUMMARY

Spot month NYMEX natural gas traded to $9.50 then dropped to $8 where it found support.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (July) support at 8.00 with resistance at 9.50. Calendar year 2023 finds support at 6.00 with resistance at 7.00. Calendar year 2024 has support at 5.00 with resistance at 6.00.

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 $0.327 at $8.85 compared to last Friday.

Cal 2023

Calendar 2023 settled up by ≈$0.6375 at $6.50.

Cal 2024
Calendar 2024 finished higher by ≈$0.455 at $5.30.

The “Widow Maker” 2023

Volatility…

OUR TAKE ON THE MARKETS

NYMEX Natural Gas

Spot month NYMEX natural gas traded to $9.50 then dropped to $8 where it found support. There was a lot of noise with these moves, yet back of the curve prices remain at highs. Our guess is that the market is nearing equilibrium for spot month until the next “thing” - likely an extreme weather event.

WHOLESALE POWER

ERCOT

Natural gas continues to lead power prices.

PJM

Natural gas continues to lead power prices.