Recent Updates
- Japan: Japan: CPI, Government Bond Trading Volume by Category of Investors (Apr)
- New Zealand: Overseas Merchandise Trade (Apr)
- UK: Consumer Confidence Barometer (May)
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Economy in Brief
U.S. Index of Leading Indicators Fell in April
Five of the index's components fell in April, one was unchanged and four increased...
U.S. Unemployment Claims Rose in the Latest Week
The state insured rates of unemployment in regular programs vary widely...
U.S. Housing Starts Dip in April but Remain Elevated
The pattern of housing construction activity seems to be shifting toward multifamily...
U.S. Mortgage Applications Continued to Slide Amid Higher Rates
The biggest declines have been in refinancing activity, while applications for purchase are just starting to crack...
UK Inflation Jumps
Inflation is at the highest rate since the series began in January of 1989...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
Profits and Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation & Fed Policy: A Relationship Which Should Worry The Fed And Scare Investors
Why Have the Yields on TIPS Been Negative in the Past Two Years?
by Tom Moeller September 17, 2019
After an attack on a Saudi Arabian oil facility on Sunday, the price of West Texas Intermediate crude oil strengthened to $62.90 per barrel yesterday from $54.85 on Friday. The outsized jump placed the price of crude oil slightly below the high of $63.86 per barrel reached in April. The price of Brent crude oil jumped to $68.79 per barrel yesterday from $61.24 averaged last week. Last week, the price of WTI crude oil had increased to an average $56.19 per barrel (-18.5% y/y) from $55.73 in the previous week.
In the week ended September 16, the U.S. pump price for gasoline held steady at $2.55 per gallon (-10.2% y/y). Haver Analytics adjusts these price figures for seasonal variation. The seasonally adjusted price increased to $2.43 per gallon from $2.41 in the previous week.
The price of natural gas jumped to $2.64 per mmbtu (-9.9% y/y) in the week ended September 13 from $2.46/mmbtu in the previous week. This was the highest price since late-May and the fifth consecutive weekly increase. Yesterday, the price rose to $2.75 per mmbtu.
For the four-weeks ending September 6, U.S. gasoline demand edged 0.2% higher y/y. Total petroleum product demand rose 0.4% y/y. U.S. gasoline inventories fell 3.0% y/y while inventories of all petroleum products increased 2.3% y/y. Crude oil input to U.S. refineries fell 1.4% y/y.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. More detail on prices, demand, production and inventories, including regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 9/16/2010 | 9/9/2019 | 9/2/2019 | Y/Y % | 2018 | 2017 | 2016 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price, End of Period) | 2.55 | 2.55 | 2.56 | -10.2 | 2.27 | 2.47 | 2.31 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 56.19 | 55.73 | 55.22 | -18.5 | 64.95 | 50.87 | 43.22 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 2.64 | 2.46 | 2.28 | -9.9 | 3.18 | 2.99 | 2.51 |