The NYMEX Henry Hub prompt-month contract tumbled past a key technical support level in Nov. 30 trading, as rising production and a mild start to the heating season ease the market’s fears over supply heading into winter. NYMEX January shed 29 cents to settle at $4.57/MMBtu in Nov. 30, falling to the prompt-month contract’s lowest price since Sept. 7. Although the NYMEX prompt-month has bounced around in recent weeks, with daily swings of 20 cents or more not uncommon, prices remained above a key technical support level. The Nov. 30 price drop broke through this technical threshold, calculated at $4.827/MMBtu with Fibonacci technical analysis, according to Stephen Schork, principal of The Schork Report, who attributed the price drop to a lack of early winter heating demand. “At this point, it is a weather story,” Schork told S&P […]