Recent Updates
- China: GDP (Q1)
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- more updates...
Economy in Brief
U.S. Housing Affordability Fell Back in February, but Still in Recent Range
The NAR U.S. Fixed Rate Mortgage Housing Affordability Index decreased 7.6% (-1.4% y/y) in February to 173.1...
European New Car Registrations Remarkably Strong Yet Forgettable
Car registrations are not going to be the only statistic that bears these dual and seemingly dueling characteristics...
U.S. Retail Sales Soar in March
Total retail sales including food service and drinking establishments increased 9.8% (27.7% y/y) during March...
U.S. Industrial Production Rebounded in March
Industrial production rebounded in March, rising 1.4% m/m (+1.0% y/y)...
U.S. Home Builder Index Edges Higher in April
The NAHB-Wells Fargo Composite Housing Market Index rose 1.2% to 83 during April...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller December 22, 2015
Natural gas prices fell last week to $1.69 per mmbtu (-52.9% y/y) and roughly equaled the 15-year low. Increased shale-gas production has weighed heavily of prices, but as of yesterday the price decline stabilized.
WTI crude oil costs declined to $35.77 per barrel last week (-36.0% y/y), the lowest price since February 2009. Yesterday, they eased further to $34.74. Prices were down from the daily high of $113.93 in April 2011. Brent crude oil prices fell w/w to $36.84 per barrel and were $35.34 yesterday.
Gasoline prices at the pump eased last week to $2.03 per gallon, down another penny from the prior week. Prices were 15.7% lower y/y and equaled the January low. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices. The seasonally adjusted price rose 3 cents to $2.27 per gallon. Declines in the spot market gasoline price stabilized at $1.24 per gallon (-21.6% y/y).
Gasoline inventories fell 1.2% y/y but inventories of all petroleum products rose 10.2% y/y. Crude oil production (input to refineries) increased 1.9% y/y during the last four weeks. Gasoline demand improved 0.7% y/y last week but demand for all petroleum products eased 0.5% y/y.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 12/21/15 | 12/14/15 | 12/07/15 | Y/Y% | 2014 | 2013 | 2012 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon, Regular) | 2.03 | 2.04 | 2.05 | -15.7 | 2.30 | 3.33 | 3.30 |
Light Sweet Crude Oil, WTI ($ per bbl., WSJ) | 35.77 | 36.93 | 40.40 | -36.0 | 93.64 | 97.96 | 94.20 |
Natural Gas ($/mmbtu, LA, WSJ) | 1.69 | 1.94 | 2.12 | -52.9 | 4.37 | 3.73 | 2.75 |