Natural Gas Storage Report Injection Season Week 17 (Week Ending July 26th, 2019)

NYMEX may be a tad oversold at the moment, but the normal to below-normal temperatures in key demand regions have resulted in yet another bearish injection into storage. The current week’s build of 65 Bcf flew past all market expectations and more than doubled last year’s injection and the five-year average for the same time period, which came in at 31 Bcf and 37 Bcf respectively. The Pacific region ended…

Energy Market Update – July 29, 2019

Heating Oil Prompt-month heating oil futures increased 0.78% for the week ending Friday, 7/26, as prices rose $0.0148 per gallon. On the New York Mercantile Exchange, crude futures for delivery in August closed at $56.20 per barrel on Friday, 7/26, up 0.48% for the day, and up 0.78% for the week. Crude oil prices were stable last week but rose on Monday, trading near $57 a barrel. The market awaited…

Natural Gas Storage Report Injection Season Week 16 (Week Ending July 19th, 2019)

Despite this week’s 36 Bcf injection being the second smallest build of the season, the background state of the market continues to remain neutral to bearish. Storage inventories are heading steadily closer to the five-year average, and while this build fell short of the 44 Bcf five-year average for the same time period, it managed to exceed last year’s 27 Bcf injection. The effects of Tropical storm Barry on production…

8 Ways to Cut Energy Costs by Peter Kaplan

Start by Benchmarking. Evaluating your energy use is the best way to begin. Although you can do this yourself, there are also online tools to aid in the process. The EPA’s Energy Star program, at energystar.gov, offers a set of tools called Portfolio Manager to gauge a company’s energy and water use. Logout and Shutdown. Unused equipment consumes energy. It also tends to warm your office, pushing up air conditioning…

How Green Are Your Ways? By Peter Kaplan

Hey, NJ! How Green Are Your Ways? The Energy Efficiency Dilemma for Local Business   In a world where we expect things to continually go up in cost and usage, how can it be that in a segment of the energy space, things are actually going down?  In fact, with electricity, growth has essentially stopped. According to a February 2014 White Paper from the American Council for an Energy-Efficient Economy…

Natural Gas Storage Report Injection Season Week 15 (Week Ending July 12th, 2019)

With Gulf of Mexico production ramping back up after tropical storm Barry, the market has surprisingly had little to report. This week’s 62 Bcf injection came in slightly bullish against market expectations that averaged about 66 Bcf and managed to surpass last year’s build of 46 Bcf and fell right in line with the five-average of 63 Bcf. The reporting week may not be giving NYMEX much with which to…

Tips to Save Energy in the Summer by Peter Kaplan

Here are tips to help you save energy during the spring and summer when the weather is warm and you are trying to keep your home cool. Consider adopting some of these habits in order to lower your energy use during the hottest months of the year and some money back in your wallet. Air Conditioner & Home Cooling Tips:  Have your air conditioner tuned up and clean or replace…

Natural Gas Storage Report Injection Season Week 14 (Week Ending July 5th, 2019)

Even with impending tropical storms, the July 4th holiday weekend, and summer heat finally making an appearance, this week’s storage build of 81 Bcf still exceeded market expectations, last year’s 55 Bcf injection, and the five-year average of 71 Bcf. While last week offered little in the realm of fundamental factors besides a mixed forecast, this week’s introduction of tropical storm Barry already has some offshore production shuttered as it approaches.…

New Jersey Advances Clean Energy Agenda

New Jersey advanced several of the Murphy administration’s clean energy goals during June 2019. Over the past month, the state released a draft of its revised Energy Master Plan (EMP), approved the Ocean Wind offshore wind project proposed by Ørsted, and released a detailed analysis on energy storage development in New Jersey. The state’s 2018 clean energy bill, together with Governor Phil Murphy’s Executive Orders No. 8 and 28, set forth an aggressive implementation schedule to achieve the state’s…

Natural Gas Storage Report Injection Season Week 12 (Week Ending June 21, 2019)

The streak of triple-digit injections has finally been broken with a build of 98 Bcf, but it still ended up matching market expectations while surpassing last year’s value of 71 Bcf amd the five-year average of 70 Bcf. Warmer than normal temperatures along the West coast, the deeper Southern region, and part of the East certainly aided in this very slightly bullish but mostly flat print, yet a swath of…