Infinity Insights - Volume 13, Issue 11

AT-A-GLANCE SUMMARY

Despite recent cold weather, demand for natural gas has been lackluster.

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 3.40 with resistance at 4.00. Calendar

year 2024 has support at 4.20 with resistance at 4.65.

Roadmap

NYMEX natural gas spot month (April) settled lower by $0.092 at $2.338

Compared to close last Friday

Cal 2024
Calendar 2024 settled lower by ≈$0.1125 at $3.72

Compared to close last Friday

Cal 2025
Calendar 2025 ended higher by ≈$0.035 at $4.12

Compared to close last Friday

The “Widow Maker”

2024

Volatility…

OUR TAKE ON THE MARKETS

NYMEX Natural Gas

Despite recent cold weather, demand for natural gas has been lackluster. This domestic trend combined with Europe’s mild winter have driven prices to lows. Such is the state of affairs that accompany the beginning of summer’s rebuilding of an already flush inventory.

For our clients seeking economic energy costs, this is welcomed news. There is not any reason to hesitate in making procurement strategy, as weather will likely change to complicate decisions.

WHOLESALE POWER

ERCOT

Natural gas weighs on prices.

PJM

Natural gas weighs on prices.