December 30th 2019

YOUR WEEKLY JOLT

Tomorrow is the last day of the decade! Hard to believe. As we honor year’s past and ones that lie ahead, make new resolutions, and celebrate each other, know that we’ve got big plans for 2020—and we haven’t even decided what to do with that whole extra day. Thanks, leap year!

See you on the other side. Enjoy this week’s Jolt.

Heating Oil

  • Prompt-month heating oil futures increased 1.37% for the week ending Friday, 12/27, as prices rose $0.0278 per gallon.
  • On the New York Mercantile Exchange, crude futures for delivery in January closed at $61.72 per barrel on Friday, 12/27, down 0.001% for the day, and up 2.12% for the week.

Why So Crude? Crude oil prices rallied last week, but fell on Monday as the EIA, as well as some other large banks are projecting 2020 oil prices to be lower than in 2019. Prices rose early in the week due to signals of strength in the economy and a decline in the US oil rig count. The Baker Hughes oil rig count fell last week, going from 685 to 677 and indicating decreased domestic production.


Natural Gas

  • Prompt-month natural gas futures decreased $0.17 for the week ending Friday, 12/27, to settle at $2.158/Dth.
  • Overall supply decreased by 0.6 Bcf from the previous week. Total demand increased by 6.0 Bcf.
  • Natural gas exports in September 2019 were 394,767 million cubic feet, compared with 301,746 million cubic feet in September 2018. This is a 30.83% increase.
  • Net withdrawals from storage totaled 161 Bcf, compared with the 5 year average net withdrawal of 91 Bcf and last year’s net withdrawal of 48 Bcf during the same week.
  • Working gas stocks total 3,250 Bcf, coming in 69 Bcf less than the five-year average and 518 Bcf more than last year at this time.

Warm Predictions! Natural gas futures finished lower last week with the market hitting a new contract low before recovering some of its loss into Friday’s close. The prolonged move down in prices has been fueled by long-range weather forecasts calling for unseasonably mild temperatures lingering awhile longer. – FX Empire


Electricity

  • Average peak prices in NYC decreased last week, falling $9.21 to $25.05 per MWh.
  • Average peak prices in Central NY’s Zone C decreased, falling $13.16 to $18.50 per MWh.
  • Average peak prices in New Jersey’s PSE&G decreased, falling $13.78 to $20.49 per MWh.
  • Average peak prices in New Jersey’s ACE decreased, falling $2.83 to $20.46 per MWh.
  • Average peak prices in Pennsylvania’s PPL decreased, falling $4.15 to $19.40 per MWh.
  • Average peak prices in Maryland’s BGE decreased, falling $6.26 to $22.23 per MWh.
  • Calendar 2020 prices in NYC decreased $1.22 per MWh, and Zone C prices decreased $0.96 per MWh.
  • Calendar 2020 prices in PSE&G decreased $0.818 per MWh, and ACE prices decreased $0.78 per MWh.
  • Calendar 2020 prices in PPL decreased $0.76 per MWh.

3, 2, 1…Happy New Year! Each year millions of eyeballs are focused on the New Year’s Eve ball. It is made of 2,688 Waterford Crystal triangles bolted to 672 LED modules. It is illuminated by 32,256 LEDs with each LED module containing 48 LEDs — 12 red, 12 blue, 12 green, and 12 white for a total of 8,064 of each color. – Times Square


Technology

The Decade’s Top 10 In Tech! There’s no shortage of products that are hailed by their creators as “revolutionary” or “totally transformative” upon launch. Here are 10 instances from the years between 2010 and 2019 when it actually did happen. – Wired


Marathon Cares

Survivors Teaching Students! For over 5 years, Marathon Energy team member Pamela Conner participates in a group called Survivors Teaching Students run by the Ovarian Cancer Research Alliance. Throughout the year Pamela joins other volunteers by spreading awareness to upcoming medical professionals through sharing their personal stories along with facts about the very difficult to diagnose disease. To learn more about the program, click here.

And remember, if you or your company are involved in helping your community, please let us know by emailing us here. After all, Marathon Cares.