Natural Gas Storage Report Injection Season Week 27 (Week Ending October 4th, 2019)

It turns out the third time isn’t the charm as this week’s injection of 98 Bcf broke the triple-digit build streak from the last two weeks. While the current build exceeded last year’s 91 Bcf injection and the five-year average of 89 Bcf for the same time period, the reported 98 Bcf is seen as more of a non-event despite beating most market expectations. Weather-driven demand continues to be shed,…

Renewable Energy Generation: U.S. Energy Information Administration Report Projects Approximately 50% Worldwide Contribution by 2050

The United States Energy Information Administration (“EIA”) stated in an October 2nd report that renewable energy will constitute approximately 49% of global electricity generation by 2050. In 2018 28% of available electricity was generated from renewable energy sources. As to allocation of contribution among the top three renewable sources, EIA projects solar’s share will grow the fastest. Hydroelectric’s share is projected to grow the slowest. The projected increase is stated…

Your Weekly Jolt: Happy Autumn!

Despite what the thermometer says, today really is the first day of fall! Temperatures are well into the 80’s throughout the region which is good news for those with Seasonal Affective Disorder, but bad news for everyone who has already shut off their AC (Really people, it’s ok to turn it back on for a day). Nevertheless, we are undaunted by mercury’s rollercoaster and happily bring you this week’s Jolt. HEATING OIL  Prompt-month heating…

Natural Gas Storage Report Injection Season Week 24 (Week Ending September 13th, 2019)

After a succession of trading days that remained mostly sideways, the market has begun to respond to a bearish 84 Bcf injection that exceeded expectations and the five-year average while matching the injection for the same time period last year. Despite the majority of the Lower 48 skewing hotter than normal during the reporting period, NYMEX futures are sliding back into a somewhat bearish state for the shoulder season. Major…

Currents – Energy Industry Insights – September 2019

Atlantic Coast Pipeline Remains Halted as Developers Wait on Court Decisions – “There are currently two federal permits under review–one issued by the U.S. Fish and Wildlife Service and one issued by the U.S. Forest Service–that are needed if construction is to continue.” Why this is important: The Atlantic Coast pipeline will intersect the Appalachian Trail 600 feet below the trail itself, but the U.S. Fourth Circuit has ruled the…

Natural Gas Storage Report Injection Season Week 23 (Week Ending September 6th, 2019)

The recent rally realized on NYMEX futures really remains on the technical side with what is being reported as a “short squeeze”, and the lack of strong fundamentals lately can mostly corroborate this. Regarding fundamentals, this week’s 78 Bcf injection fell a little short of the mark compared to expectation in the market, but still eclipsed both notable historical values. With both Labor Day weekend and Dorian to account for…

Natural Gas Storage Report Injection Season Week 22 (Week Ending August 30th, 2019)

Hurricane Dorian has avoided causing notable demand destruction on its path that currently runs in parallel to multiple east coast markets, but the unrelenting presence and strength of natural gas production paired with recent dips in LNG exports have resulted in yet another bearish injection that supplemented storage inventories by 84 Bcf. This exceeded all of the usual metrics, both market expectations and historical values, so even with NYMEX seemingly…

Natural Gas Storage Report Injection Season Week 21 (Week Ending August 23rd, 2019)

EIA’s reported injection of 60 Bcf was mostly a non-event but could be seen as a tad bearish since it surpassed a few market expectations while staying within a common range. It even fell between last year’s 66 Bcf build and the five-year average of 57 Bcf for the same time period. All in all, the fundamentals showed little surprises as the South and West continued to see heat as…

Natural Gas Storage Report Injection Season Week 20 (Week Ending August 16th, 2019)

Real time rates in ERCOT may have caught some heat this last week, but storage continued to build and meet expectations with a 59 Bcf injection. Yet again surpassing last year’s 47 Bcf build and the five-year average of 51 Bcf, natural gas inventories are chugging along just fine, and the consensus (so far) is that the Lower 48 should be well supplied for the upcoming winter with a projected…

Energy Market Update (August 20, 2019)

Heating Oil Prompt-month heating oil futures increased 0.27% for the week ending Friday, 8/16, as prices rose $0.0048 per gallon. On the New York Mercantile Exchange, crude futures for delivery in September closed at $54.87 per barrel on Friday, 8/16, up 0.24% for the day, and up 0.68% for the week. Crude oil prices were up slightly last week and continued to rise on Monday, trading just under $56 a…