Infinity Insights - Volume 12, Issue 38

AT-A-GLANCE SUMMARY

Spot month NYMEX natural gas (December) moved lower to mid $5s.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (December) support at 5.35 with resistance at 6.40 then 7.50. Calendar year 2023 finds support at 4.65 with resistance at 5.70. Calendar year 2024 has support at 4.30 with resistance at 4.80.

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

Roadmap

NYMEX natural gas spot month (December) closed off by $1.494 at $4.959
Compared to last Friday’s close

Cal 2023
Calendar 2023 settled lower by ≈$0.6475 at $4.87

Cal 2024
Calendar 2024 ended off by ≈$0.22 at $4.48

The “Widow Maker” 2023

Volatility…

OUR TAKE ON THE MARKETS 

NYMEX Natural Gas
Spot month NYMEX natural gas (December) moved lower to mid $5s. Lack of weather is the culprit. The back of the curve also fell nearing support at $4. Negative features include a softening of LNG demand globally. Bullish expectations hinge on weather, and this is likely the market’s perspective, noting that prices drift lower without direction until and unless cold sets in.

WHOLESALE POWER

ERCOT

As prices followed natural gas higher, so they are following prices lower.

PJM

As prices followed natural gas higher, so they are following prices lower.