Recent Updates
- Saudi Arabia: Cement Deliveries (Nov)
- Iraq: CBI Purchase of FX from MOF (Oct)
- US: Import/Export Prices, Advance Retail Sales (Nov)
- Services Sector Survey (Oct)
- Germany: BOP Detail (Oct), External Position of the BBK (Nov), BBK Curren
- more updates...
Economy in Brief
Import and Export Prices Increase
Import prices rose 0.2% during November (-1.3% y/y)...
U.S. Business Inventories Rise While Sales Slip
Total business inventories increased 0.2% (3.1% y/y) during October...
Friday 13 of December 2019: An unlucky day for Japan’s Tankan
The manufacturing barometer, which is considered the bellwether of this index, fell to zero in Q4 2019 from 5 in Q3...
U.S. Financial Accounts Show Larger Government Borrowing, Somewhat Less Household Borrowing
Total borrowing in U.S. financial markets rose to $4,266 billion in Q3 2019...
U.S. Producer Prices Are Unexpectedly Tame; Core Prices Weaken
The Producer Price Index for final demand was unchanged during November (1.1% y/y)...
by Tom Moeller April 2, 2019
U.S. retail gasoline prices increased this week to $2.69 per gallon (-0.3% y/y), up from the low of $2.24 early in January. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The seasonally-adjusted price rose to $2.73 per gallon, the highest level since October.
West Texas Intermediate crude oil prices were little-changed w/w at an average of $59.49 (-8.5% y/y) per barrel. Prices have been rising since the low of $44.55 per barrel in late-December but remained below the high of $75.11 early in October. Yesterday, prices strengthened to $61.59. Brent crude oil prices held steady w/w at an average of $67.59 per barrel, up from a late-December low of $52.36. They were $69.01 yesterday.
Natural gas prices declined to an average of $2.71/mmbtu last week (+1.5% y/y). Prices were below the November high of $4.67/mmbtu. The price was $2.74 yesterday.
In the four-weeks ending March 22, gasoline demand declined 1.9% y/y, while total petroleum product demand was little changed y/y. Gasoline inventories eased 0.4% y/y, while inventories of all petroleum products rose 0.9% y/y. Crude oil input to refineries declined 2.8% y/y in the last four weeks.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. Greater detail on prices, as well as the demand, production and inventory data, along with regional breakdowns, are in OILWKLY
Weekly Energy Prices | 4/1/19 | 3/25/19 | 3/18/19 | Y/Y % | 2018 | 2017 | 2016 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price, End of Period) | 2.69 | 2.62 | 2.55 | -0.3 | 2.27 | 2.47 | 2.31 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 59.49 | 59.38 | 57.81 | -8.5 | 64.95 | 50.87 | 43.22 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 2.71 | 2.86 | 2.89 | 1.5 | 3.18 | 2.99 | 2.51 |