Infinity Insights - Volume 13, Issue 27
AT-A-GLANCE SUMMARY
Spot natural gas rallied to resistance at $3 over this past week.
SUMMARY OF THE LAST WEEK IN CHARTS
Spot month natural gas (September) support at 2.50 with resistance at 3.00. Calendar year 2024 finds support at 3.40 with resistance at 4.00. Calendar year 2025 has support at 3.90 with resistance at 4.35.
Roadmap
NYMEX natural gas spot month (September) ended up by $0.193 at $2.77
Compared to close of last Friday
Cal 2024
Calendar 2024 closed better by ≈$0.145 at $3.705
Compared to close of last Friday
Cal 2025
Calendar 2025 finished up by ≈$0.08 at $3.905
Compared to close of last Friday
The “Widow Maker”
2024
Volatility…
OUR TAKE ON THE MARKETS
NYMEX Natural Gas
Spot natural gas rallied to resistance at $3 over this past week. Technical considerations along with severe heat across the south are the primary drivers. This coincides with the seasonal trend higher as we go into fall. The back calendar strips have not moved significantly higher, but the sideways action seen gives credibility to prices based for a move higher.
WHOLESALE POWER
Heat rates have retreated from their highs with the exception of ERCOT.