Recent Updates
- Japan: ** Japan IP forecasts have rebased from 2010=100 to 2015=100. We are currently working on processing the new data.**
- ** New Zealand Jobs Online has changed its reported frequency from monthly to quarterly and rebased from August 2010=100 to Q4 2010=100. **
- Armenia: Commercial Bank Loans by Fields, Commercial Bank Loans and Deposits (Mar)
- Finland: Business Confidence, Consumer Confidence (Apr)
- Australia: PPI, Manufacturing Price, Construction Materials
- more updates...
Economy in Brief
Kansas City Federal Reserve Factory Index Hits Record High
The Kansas City Fed reported that its index of regional manufacturing sector business activity surged to a record 26...
U.S. Initial Unemployment Insurance Claims Decline Sharply
Initial claims for unemployment insurance fell sharply to 209,000 (-17.1% y/y)...
German Confidence Flattens and Falters
German confidence for May is mooted at a 97.8% queue percentile standing...
U.S. Mortgage Loan Applications Are Little Changed; Rates Remain High
The MBA total Mortgage Applications Volume Index eased 0.2% last week (-1.9% y/y)...
Japan Shows Very Moderate Growth As Trade War Clouds Gather
Japan’s sector indexes showed a solid gain in February...
by Tom Moeller April 1, 2014
Petroleum prices resumed their upward movement last week. The price for a gallon of regular gasoline increased to $3.58 (-1.8% y/y) and was at the highest level since early September. Prices remained below the $3.78 per gallon peak reached in February of last year. Haver Analytics constructs seasonal factors to account for seasonal volatility. The adjusted price held last week at $3.44 per gallon.
The per barrel cost of WTI crude oil increased last week to $100.58 (4.5% y/y) but remained below the $108.67 high in early September. Yesterday, prices were $101.58 per barrel. Brent crude oil prices inched up last week to $106.51 per barrel (-0.9% y/y) and yesterday were $106.66 per barrel.
The demand for all petroleum products gained 1.1% y/y last week. Gasoline demand increased 3.4% y/y. Residual fuel oil needs, used for heating, declined 37.0% y/y while distillate demand slipped 0.9% y/y. Inventories of crude oil and petroleum products fell 2.2% y/y.
The energy price data are reported by the U.S. Department of Energy and can be found in Haver's WEEKLY database. The daily figures are in DAILY and the petroleum demand and inventory figures are in OILWKLY.
Weekly Energy Prices | 03/31/14 | 03/24/14 | 03/17/14 | Y/Y% | 2013 | 2012 | 2011 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon, Regular) | 3.58 | 3.55 | 3.55 | -1.8 | 3.51 | 3.62 | 3.52 |
Light Sweet Crude Oil, WTI ($ per bbl., WSJ) | 100.58 | 99.77 | 99.55 | 4.5 | 97.95 | 94.20 | 95.14 |
Natural Gas ($/mmbtu, LA) | -- | 4.44 | 4.55 | -- | 3.73 | 2.75 | 3.99 |