Recent Updates
- US: Wholesale Trade (Oct), Consumer Sentiment (Dec-Prelim), Employment Situation (Nov)
- US: Consumer Sentiment (Dec-prelim)
- Lebanon: Public Debt (Oct-Prelim)
- US: US Sector PMI (Nov)
- more updates...
Economy in Brief
U.S. Trade Deficit Shrinks as Imports Fall Sharply
The U.S. trade deficit in goods and services declined to $47.20 billion during October...
U.S. Factory Sector Orders Increase; Inventory Growth Decelerates
Factory orders improved 0.3% (-1.2% y/y) during October...
U.S. Initial Claims for Unemployment Insurance Fall to 7-Month Low
Initial claims for unemployment insurance fell 10,000 to 203,000 (-11.4% y/y) during the week ending November 30...
U.S. ADP Private Payroll Increase Disappoints
The ADP National Employment Report indicated that private nonfarm payrolls rose 67,000 (1.5% y/y) during November...
U.S. ISM Nonmanufacturing Index Weakens
The ISM Composite Index of Nonmanufacturing Sector Activity declined to 53.9 during November...
by Tom Moeller October 16, 2019
In the week ended October 14, the U.S. pump price for gasoline eased to $2.63 per gallon (-8.7% y/y) from $2.65 the previous week. Haver Analytics adjusts these price figures for seasonal variation. The seasonally adjusted price held steady at $2.54 per gallon.
In the week ended October 11, the price of West Texas Intermediate crude oil was little changed w/w at $53.25 per barrel (-27.0% y/y). It remained down sharply versus the weekly high of $75.11 roughly one year ago. Yesterday, the price was $52.81 per barrel. The price of Brent crude oil edged higher to $58.93 per barrel (-28.5% y/y) from $58.35 the previous week. Yesterday, the price was $58.69.
The price of natural gas declined to $2.29 per mmbtu (-30.6% y/y) in the week ended October 11 from $2.33 per mmbtu in the previous week. It was the lowest price since the end of August and below the $4.49 high reached in early December. Yesterday, the price edged up to $2.29.
For the four weeks ending October 4, U.S. gasoline demand rose 0.5% y/y while total petroleum product demand increased 3.0% y/y. U.S. gasoline inventories fell 3.1% y/y while inventories of all petroleum products increased 0.7% y/y. Crude oil input to U.S. refineries fell 2.8% y/y.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. More detail on prices, demand, production and inventories, including regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 10/14/19 | 10/07/19 | 9/30/19 | Y/Y % | 2018 | 2017 | 2016 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price, End of Period) | 2.63 | 2.65 | 2.64 | -8.7 | 2.27 | 2.47 | 2.31 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 53.25 | 53.12 | 56.95 | -27.0 | 64.95 | 50.87 | 43.22 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 2.29 | 2.33 | 2.52 | -30.6 | 3.18 | 2.99 | 2.51 |