Infinity Insights - Volume 12, Issue 40

AT-A-GLANCE SUMMARY

The front of the NYMEX natural gas curve traded volatilely between 6.50 and 5.50.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (December) support at 5.50 with resistance at 6.50. Calendar year 2023 finds support at 4.90 with resistance at 5.70. Calendar year 2024 has support at 4.50 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 up by $0.716 at $6.40

Compared to last Friday’s close

Cal 2023
Calendar 2023 settled higher by ≈$0.4575 at $5.4075

Cal 2024
Calendar 2024 ended better by ≈$0.1475 at $4.655

The “Widow Maker” 2023

Volatility…

OUR TAKE ON THE MARKETS 

NYMEX Natural Gas
The front of the NYMEX natural gas curve traded volatilely between 6.50 and 5.50. The lack of follow-through, either up or down, indicates to us that the direction to come has yet to be determined. Winter should provide support but needs cold weather to provide demand.

The deferred calendar strips are holding near 4.00 and offer value. Buying pullbacks remains our recommendation.

WHOLESALE POWER

ERCOT

Power continues to follow natural gas.

PJM

Power continues to follow natural gas.