Infinity Insights - Volume 12, Issue 7

AT-A-GLANCE SUMMARY

Spot month NYMEX natural gas volatility continues to confuse and perplex.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (March) support 4.00 with resistance at 5.00. Balance of Calendar year 2022 finds support at 4.25 with resistance at 5.00. Calendar year 2023 has support at 3.65 with resistance at 3.90.

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

Roadmap

NYMEX natural gas spot month (March) finished higher by $0.49 at $4.431 compared to last Friday’s close.

Balance of Calendar 2022
Balance of Calendar 2022 settled better by ≈$0.41 at $4.53.

Calendar 2023
Calendar 2023 closed up by ≈$0.1525 at $3.73.

OUR TAKE ON THE MARKET

The “Widow Maker”

Volatility…

NYMEX Natural Gas

Spot month NYMEX natural gas volatility continues to confuse and perplex. Calendar year strips from 2024 out are at new highs. Success in locking prices has been to buy weakness, such as it is. As winter ebbs, expectations usually see softening prices so waiting is an option if feasible. Over-hanging all of this is the question of what would conflict in Ukraine do to market stability. A lot of moving parts without direction.

Sometimes sitting on decisions is a good strategy. This is likely such a time.

WHOLESALE POWER

ERCOT

Heat rates are basically static, which leaves price to follow natural gas,

 PJM

No change in price following natural gas.