Infinity Insights - Volume 12, Issue 36

AT-A-GLANCE SUMMARY

Spot month NYMEX natural gas (November) dropped to support around 6.50 and held.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (November) support at 6.50 with resistance at 8.00. Calendar year 2023 finds support at 5.40 with resistance at 6.75. Calendar year 2024 has support at 4.50 with resistance at 5.50.

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

Roadmap

NYMEX natural gas spot month (November) fell by $0.018 at $6.748

Compared to last Friday’s close

Cal 2023
Calendar 2023 ended better by ≈$0.23 at $5.415

Cal 2024
Calendar 2024 settled down by ≈$0.0325 at $4.6475

The “Widow Maker” 2023

Volatility…

OUR TAKE ON THE MARKETS 

NYMEX Natural Gas
Spot month NYMEX natural gas (November) dropped to support around 6.50 and held. Price action continues to be volatile. Buying pullbacks is procurement objective as winter is fast approaching.

The western state’s drought and Hurricane Ian have put an exclamation point on extreme weather’s impact and the growing danger of being unprepared. The expectations are that being prepared for what’s gone before aren’t working in the new world of changing weather. Mobile homes and sea level living are no longer acceptable. Bottom line, risk grows in the new world of extremes.

WHOLESALE POWER

ERCOT

Natural gas leads the way.

PJM

Natural gas leads the way.