Infinity Insights - Volume 13, Issue 18
AT-A-GLANCE SUMMARY
$2 level for spot NYMEX natural gas continues to hold.
SUMMARY OF THE LAST WEEK IN CHARTS
Spot month natural gas (June) support at 2.00 with resistance at 3.25. Calendar year 2024 finds support at 3.40 with resistance at 4.00. Calendar year 2025 has support at 3.85 with resistance at 4.35.
Roadmap
NYMEX natural gas spot month (June) settled up by $0.129 at $2.266
Compared to close last Friday
Cal 2024
Calendar 2024 closed down by ≈$0.0225 at $3.605
Compared to close last Friday
Cal 2025
Calendar 2025 ended off by ≈$0.045 at $4.035
Compared to close last Friday
The “Widow Maker”
2024
Volatility…
OUR TAKE ON THE MARKETS
NYMEX Natural Gas
$2 level for spot NYMEX natural gas continues to hold. This sideways support is encouraging for the bulls despite lack of weather demand. ERCOT is particularly interesting as some pundits voice concern that supply will be insufficient for summer’s heat. Noting that extremes in weather events are more frequent and more intense, this is a timely warning to manage risk before events.
WHOLESALE POWER
ERCOT
Prices follow natural gas.
PJM
Prices follow natural gas.