Hold up! Don’t put your winter clothes away yet. We all have a bit of spring fever after this weekend’s record warmth, but spring is still over two months away. And Old Man Winter is about to remind us of that with his return. Good ol’ January—about as predictable as the lotto.
Anyhow, the thermometer in Central Park reached 68 degrees Saturday, busting a 25-year-old record of 63 degrees. Similarly, Boston recorded the warmest winter weekend ever since weather records began in 1872.
Not surprisingly, this week’s Jolt is also coming in hot.
Why So Crude? Crude oil prices fell last week and continued to decrease through Monday, trading around $58 a barrel. Prices saw their largest weekly loss in more than six months as tensions between the United States and Iran eased and the potential for an armed conflict in the Middle East subsided. Though the situation in Iran remains volatile following their accidental downing of a Ukrainian passenger jet, investors seemed to focus more on the stability of the crude oil supply coming out of the region. The market was supported in part by the anticipated signing of phase one of a trade deal between the U.S. and China, which could be crucial in determining how much American crude oil China purchases. The Baker Hughes oil rig count fell last week, going from 670 to 659 and indicating decreased domestic production.
Dry It Out! Natural gas is being seen as a solution for wet grain for farmers in North Dakota. Read how one farming family is using natural gas to dry their crops. – Grand Forks Herald
Where’s That Coming From? According to EIA’s latest inventory of electric generators, 23.7 gigawatts (GW) of new capacity additions and 8.3 GW of capacity retirements are expected for the U.S. electric power sector in 2019. – EIA
Top 5 From CES 2020! The 5 biggest tech trends from CES 2020 from high-tech food to folding computers to upgrading your health to a prototype city of the future, these trends mattered. – cnet
Taking A Plunge! Marathon Energy’s Director of Strategic Partnerships, Victoria Marchese, participated in the Polar Bear Plunge in Wildwood NJ for Special Olympics this past Saturday with the Monroe Township Police Department Group. To learn more about the event and what the money raised from the event goes towards, 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.