Infinity Insights - Volume 12, Issue 39

AT-A-GLANCE SUMMARY

There are many LNG tankers waiting to be unloaded in Europe and a lack of winter globally.

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) settled higher by $0.725 at $5.684

Compared to last Friday’s close

Cal 2023
Calendar 2023 ended better by ≈$0.08 at $4.95

Cal 2024
Calendar 2024 finished up by ≈$0.03 at $4.505

The “Widow Maker” 2023

Volatility…

OUR TAKE ON THE MARKETS 

NYMEX Natural Gas
There are many LNG tankers waiting to be unloaded in Europe and a lack of winter globally. Natural gas price falling under these circumstances is understandable, drifting lower without any bullish news. The front of the curve remains the most volatile, so far holding low fives. The back of the curve (annual strips) have support in the low fours. We will not be surprised if the front continues erratically lower, but the back appears solid.

WHOLESALE POWER

ERCOT

Power prices slip with natural gas.

PJM

Power prices slip with natural gas.