Infinity Insights - Volume 12, Issue 43

AT-A-GLANCE SUMMARY

Spot month NYMEX natural gas price (January) has changed little over the last two weeks.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (January) support at 5.50 with resistance at 7.00. Calendar year 2023 finds support at 4.90 with resistance at 5.90. 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 (January finished off by $0.435 at $6.281

Compared to close of 11/18/22

Cal 2023
Calendar 2023 ended higher by ≈$0.045 at $5.31875

Compared to close of 11/18/22

Cal 2024
Calendar 2024 closed off by ≈$0.025 at $4.66

Compared to close of 11/18/22

The “Widow Maker” 2023

Volatility…

OUR TAKE ON THE MARKETS 

NYMEX Natural Gas
Spot month NYMEX natural gas price (January) has changed little over the last two weeks. Winter’s arrival has provided support but sidelined Freeport LNG facility has weighed on prices. This should resolve itself over the next month as we expect prices to remain stable to stronger.

In order to provide perspective on pricing, we offer the following:

Note that prices are near the highs for the calendar strips. This poses second-guessing and rethinking decisions, something not helpful to procurement process.
WHOLESALE POWER

ERCOT

Natural gas continues to lead power prices.

PJM

Natural gas continues to lead power prices.