The EIA’s oil report yesterday revealed some interesting trends that are relevant to both fuel suppliers and consumers. Crude inventories fell, which would normally boost oil prices, yet prices dropped below $50 yesterday. Gasoline stocks rose while diesel stocks fell, yet both products saw higher prices during yesterday’s trading sessions. While markets typically focus on […]
U.S. total crude oil and petroleum product exports more than doubled from 2.4 million barrels per day (b/d) in 2010 to 5.2 million b/d in 2016. While exports of distillate, gasoline, propane, and crude oil have all contributed to the increase, growth rates and market drivers for each product have varied during this period (Figure […]
The Energy Information Administration (EIA) released its weekly data on diesel and gasoline retail prices for the week ended June 19th, 2017. The past three weeks brought a significant contraction in crude prices, and this led to nationwide declines in retail gasoline and diesel prices. Prices for diesel decreased by 3.5 cents per gallon, while […]
The Energy Information Administration (EIA) released its weekly data on diesel and gasoline retail prices for the week ended May 29th, 2017. The data release was delayed by one day in observance of Memorial Day. Prices for diesel rose significantly, while gasoline prices rose modestly. Retail prices followed crude prices up during the week leading […]
EIA’s April 2017 Short-Term Energy Outlook (STEO) expects that electricity generation fueled by natural gas this summer (June, July, and August) will be lower than last summer, but it will continue to exceed that of any other fuel, including coal-fired generation, for the third summer in a row. The projected share of total U.S. generation […]
U.S. crude oil production in the Federal Gulf of Mexico (GOM) set an annual high of 1.6 million barrels per day (b/d) in 2016, surpassing the previous high set in 2009 by 44,000 b/d. In January 2017, GOM crude oil production increased for the fourth consecutive month, reaching 1.7 million b/d. On an annual basis, […]
WTI crude prices have just crashed below $48/b. Prices remained stable in the $48.00-$48.50/b range through yesterday and overnight. This morning, they weakened to the low end of this range this morning, and they broke through $48/b just at the time of this newsletter. WTI opened at $48.45/b today, identical to yesterday’s opening. Current prices […]
The Energy Information Administration (EIA) released its weekly data on diesel and gasoline retail prices for the week ended February 13th, 2017. Both gasoline and diesel prices increased during the week. For the current week ended February 13th, diesel prices rose 0.7 cents to an average price of $2.558/gallon. PADD 1 retail diesel prices rose […]
Analysis by Dr. Nancy Yamaguchi WTI crude prices made a comeback yesterday after a two-session slump, and they are strengthening again this morning. WTI opened at $52.37/b today, $1.56/b above yesterday’s opening price. Prices flattened overnight and are trending up again this morning. WTI prices are $52.96/b currently, $0.71 above yesterday’s close. Product prices followed […]
Source: EIA Short-Term Energy Outlook The U.S. Energy Information Administration’s (EIA) January Short-Term Energy Outlook (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) to average $53 per barrel (b) and $52/b, respectively, in 2017, close to their levels during the last three weeks of 2016. Average forecast prices rise to $56/b and […]
