Infinity Insights - Volume 12, Issue 41

AT-A-GLANCE SUMMARY

Cold weather is coming over the weekend and it will stay around for a while.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (December) support at 5.50 with resistance at 6.50 then 7.40. 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) settled lower by $0.521 at $5.879

Compared to last Friday’s close

Cal 2023
Calendar 2023 finished lower by ≈$0.29 at $5.12

Cal 2024
Calendar 2024 was off by ≈$0.0325 at $4.62

The “Widow Maker” 2023

Volatility…

OUR TAKE ON THE MARKETS 

NYMEX Natural Gas
Cold weather is coming over the weekend and it will stay around for a while. The spot month (December) continues to trade with a high degree of volatility and uncertainty. The back of the curve remains well supported at current levels.

With near-freezing temperatures in store, conventional wisdom has capturing price at current levels prudent. We agree with this approach.

WHOLESALE POWER

ERCOT

Heat rates have traded in a narrow range with natural gas continuing to lead direction.

PJM

Natural gas remains price leader.