01 Oct

Natural Gas Futures Advance as Storm Threatens Gulf of Mexico

Natural gas futures climbed in New York for the fourth time in five days on speculation that a tropical weather system will enter the Gulf of Mexico, causing pipelines and platforms to shut.

Gas gained as much as 1.7 percent. An area of low pressure over the western Caribbean Seahas a 50 percent chance of becoming a tropical cyclone over the next five days, the National Hurricane Center in Miami said in an 8 a.m. outlook. The storm will move over the southern Gulf later this week, according to the hurricane center.

“The bottom line for the market is the concern that this storm could be a problem maker,” said Bob Yawger, director of the futures division at Mizuho Securities USA Inc. in New York. “Traders are looking to take prices a little higher.”

Natural gas for November delivery rose 3.6 cents, or 1 percent, to $3.596 per million British thermal units at 9:37 a.m. on the New York Mercantile Exchange. Trading volume was 15 percent above the average for the time of day. Prices have advanced 7.3 percent this year.

Want to know more? read the rest of the article here

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01 Oct
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16 Jul

Introducing the Galileo

Fleet Energy is now a selling the Galileo Fueling System focusing on selling the Micro and Nano systems. The Nanobox is an integral solution that allows compression storing and dispatching CNG within a single unity.  The Microbox is Galileo’s original and exclusive line of “Plug-and-Play” CNG refueling stations.

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16 Jul

Great News for Blair County!

Temperatures might be heating up, but Peoples Natural Gas prices are cooling off.

The utility announced Friday that the cost customers pay for the actual gas usage – known as the cost recovery rate – will drop starting Monday. The cost of the gas makes up about 75 percent of a residential customer’s bill.

“We owe customers money,” Joe Gregorini, Peoples manager of pricing and regulatory affairs said. That’s because the company’s projections for purchasing gas over the past three months from its producers, mostly local mom-and-pop producers and farmers sitting on Marcellus Shale gas wells in western Pennsylvania, were higher than the actual cost, he said.

The assumptions Peoples makes in purchasing gas affects the part of customers’ bills involving pass-through costs.

The average customer bill will decrease by 8 percent, or from $84 per month to $77 per month for the quarter beginning July 1 and lasting through September. Peoples does not expect costs to rise for the next quarter either.

 

Read more from the article in the Altoona Mirror Here. 

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