Infinity Insights - Volume 13, Issue 9

AT-A-GLANCE SUMMARY

Natural gas demand has eroded with no weather.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (April) support at 2.00 with resistance at 3.25.

Balance of Calendar year 2023 finds support at 3.25 with resistance at 4.00. Calendar

year 2024 has support at 3.40 with resistance at 4.00.

Roadmap

NYMEX natural gas spot month (April) finished up by $0.461 at $3.009

Compared to close last Friday

Balance of Cal 2023
Balance of Calendar 2023 closed higher by ≈$0.44 at $3.675 Compared to close last Friday

Cal 2024
Calendar 2024 ended higher by ≈$0.305 at $3.9775

Compared to close last Friday

The “Widow Maker”

2024

Volatility…

OUR TAKE ON THE MARKETS

NYMEX Natural Gas

Natural gas demand has eroded with no weather. Spring is the usual time for inventory rebuild amid weakened demand. Currently, sideways trading lends itself to an indifference as to direction. That said, prices have been defensive, a good thing for energy procurers.

Extreme weather has brought prices to this point. The likelihood of the next move to be weather-driven is probable.

WHOLESALE POWER

ERCOT

Little incremental demand.

PJM

Little incremental demand.