Infinity Insights - Volume 12, Issue 42

AT-A-GLANCE SUMMARY

The bullish impact of cold weather is offset by delay of Freeport LNG facility reopening.

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) ended up by $0.424 at $6.303

Compared to last Friday’s close

Cal 2023
Calendar 2023 settled higher by ≈$0.155 at $5.275

Cal 2024
Calendar 2024 was up by ≈$0.0625 at $4.685

The “Widow Maker” 2023

Volatility…

OUR TAKE ON THE MARKETS 

NYMEX Natural Gas
The bullish impact of cold weather is offset by delay of Freeport LNG facility reopening. Spot month NYMEX natural gas (December) has $5.50 support, and it is significant yet upside uncertain. At a minimum, current levels offer value if procurement is consideration.  

WHOLESALE POWER

ERCOT

Natural gas determines direction of prices.

PJM

Natural gas determines direction of prices.