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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- more updates...
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 October 6, 2020
• Gasoline prices continue sideways trend.
• Crude oil prices decline.
• Natural gas prices ease w/w; firm yesterday.
Regular gasoline prices were unchanged at $2.17 per gallon (-17.9% y/y) in the week ended October 5, having hovered around that level since late-June. Haver Analytics adjusts the gasoline price series for usual seasonal variation. The seasonally adjusted price held at $2.12 per gallon versus the previous week. The reformulated RBOB Regular Gasoline Spot Price rose three cents to $1.29 per gallon in the week ended October 2.
The cost of West Texas Intermediate crude oil fell 1.8% last week (-26.4% y/y) to average $39.10 per barrel in the week ended October 2 from $39.82 in the previous week. Yesterday, the price was $39.22 per barrel. The price of Brent crude oil dipped 1.2% w/w (-29.4% y/y) to average $41.19 per barrel versus $41.70 in the previous week. The price was $41.41 per barrel yesterday.
Natural gas prices also slipped 1.8% w/w (-29.2% y/y) to $1.65/mmbtu in the week ended October 2 from $1.68/mmbtu in the previous week. The weekly average was at its lowest level since late-June, Yesterday, the price rebounded to $1.92/mmbtu.
In the four weeks ended September 25, gasoline demand declined 8.9% y/y. Total petroleum product demand fell 14.4% y/y. Crude oil input to refineries was down 20.1% y/y in the past four weeks. Gasoline inventories moved 0.8% below a year ago, while inventories of all petroleum products rose 6.6% y/y.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. Greater detail on prices, as well as the demand, production and inventory data, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 10/05/20 | 09/28/20 | 09/21/20 | Y/Y % | 2019 | 2018 | 2017 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price, End of Period) | 2.17 | 2.17 | 2.17 | -17.9 | 2.57 | 2.27 | 2.47 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 39.10 | 39.82 | 39.55 | -26.4 | 56.91 | 64.95 | 50.87 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 1.65 | 1.68 | 1.93 | -29.2 | 2.57 | 3.18 | 2.99 |