U.S. natural gas storage capacity increased slightly in 2016

For the past three years, underground natural gas storage capacity in the Lower 48 states has changed by relatively small increments compared to the changes in 2012 and 2013. No new storage facilities have entered service since 2013, so recent annual changes in both storage design capacities and demonstrated maximum working gas volumes reflect the […]

Retail gasoline prices this summer are expected to be slightly higher than in 2016

Republished April 13, 2017, at 11:30 a.m. to clarify the estimates of household gasoline expenditures from the Bureau of Labor Statistics. Drivers in the United States will pay an average of $2.46 per gallon (gal) this summer for regular gasoline, according to forecasts in EIA’s Short-Term Energy Outlook (STEO). Gasoline prices from April through September […]

U.S. crude oil imports increased in 2016

Gross U.S. crude oil imports in 2016 rose to an average of 7.9 million barrels per day (b/d), 514,000 b/d more than the 2015 average. Net crude oil imports increased by a smaller amount (460,000 b/d), as U.S. crude oil exports rose despite a decline in U.S. crude oil production. From a longer term perspective, […]

U.S. oil producers issued record equity in 2016 and increased investment in the final quarter

A group of 44 U.S. onshore-focused oil producers issued a record amount of equity in 2016. In the fourth quarter of 2016, capital expenditure for these companies was $4.9 billion (72%) higher than in the fourth quarter of 2015. This increase in investment spending was the first year-over-year increase since the fourth quarter of 2014 […]

U.S. crude oil exports went to more destinations in 2016

In 2016, U.S. crude oil exports averaged 520,000 barrels per day (b/d), 55,000 b/d (12%) more than in 2015 despite a year-over-year decline in production. However, the rate of U.S. crude oil export growth has slowed significantly from its pace over 2013-15 when annual U.S. crude production grew rapidly. Meanwhile, increased crude oil imports in […]

Wholesale power prices in 2016 fell, reflecting lower natural gas prices

Source: U.S. Energy Information Administration. Principal contributor: Tyler Hodge Average wholesale electricity prices at major trading hubs across the United States during the first quarter of 2016 were significantly lower than during the same period in 2015, ranging from 24% lower in California to 64% lower in New England. Monthly wholesale prices for the rest […]

With low oil prices in 2016, federal revenues from energy on federal lands again declined

Source: EIA. Principal contributors: Natalie Kempkey, Matthew Manning In fiscal year (FY) 2016, the U.S. government collected almost $6 billion in revenues from royalties, rental costs, and other fees from activities related to energy production on federal and American Indian lands, according to the Department of Interior’s Office of Natural Resource Revenue. These activities include […]

Nat Gas News – January 24, 2017

Click here to read the latest NGN In the News The days of cheap natural gas are over Forbes reports: Natural gas prices averaged a little more than $2.50 per mmbtu (million British Thermal Units) in 2016. Those days are over. Prices willaverage at least $3.50 to $4.00 in 2017. Prices have more than doubled […]

Crude oil prices increased in 2016, still below 2015 averages

Source: Energy Information Administration. Principal contributor: Matthew French Crude oil prices ended the year above $50 per barrel (b). Although the annual average West Texas Intermediate (WTI) crude oil price in 2016 was $43/b—down $5/b from 2015—the WTI price ended 2016 at $53/b, $16/b higher than at the end of 2015. Similarly, Brent ended the […]

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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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