Recent Updates
- Macao: Visitor Arrivals (Apr)
- Turkey: Domestic Debt by Holder (APR)
- UK Regional: Northern Ireland: Mortgage Possession (Q1)
- UK Regional: GfK Consumer Confidence Barometer by Region (May)
- North Macedonia: Broad Money, Other Depository Corporations'
- more updates...
Economy in Brief
UK Consumer Sentiment Hits Lowest Reading since 1996
(when the GFK survey began; also lowest reading 'ever')
Of these 13 readings eight of them declined on the month in May three of them improved and two of them were unchanged...
U.S. Existing Home Sales Continue to Fall in April as Houses Become Less Affordable
The combination of soaring home prices across the nation and rising interest rates is making homes less affordable...
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...
CBI Gauge in the UK Continues to Be Upbeat
The global economy has a lot of challenges...
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 and 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 May 3, 2022
• Gasoline prices increase sharply.
• Crude oil prices ease.
• Natural gas prices fall.
Retail gasoline prices increased to $4.18 gallon in the week ended May 2 (44.7% y/y) after rising to $4.11 per gallon the prior week. Prices set a record $4.32 per gallon in the second week of March. Haver Analytics adjusts the gasoline price series for normal seasonal variation. The seasonally adjusted price rose to $4.25 per gallon, leaving it just short of the record.
The price of West Texas Intermediate crude oil fell to $102.86 per barrel (+62.0% y/y) in the week ended April 29 after rising to $104.04 per barrel in the prior week. These compare to a high of $113.33 averaged in the fourth week of March. Yesterday, the price rose to $105.17 per barrel. The average price of Brent crude oil fell to $105.49 per barrel (+57.6%) from $108.40 the prior week. The price was $107.37 per barrel yesterday.
The price of natural gas fell in the week ended April 29 to $6.81/mmbtu (+136.5% y/y) after rising to $7.10 in the previous week. The price has risen from a low of $1.52/mmbtu averaged in the third week of June 2020. Yesterday, the price strengthened to $7.30/mmbtu.
In the four weeks ended April 22, gasoline demand declined 2.2% y/y. Growth in demand for all petroleum products eased 1.6% y/y. Growth in crude oil input to refineries fell to 5.0% y/y. Gasoline inventories decreased 1.8% y/y while crude oil inventories declined 14.2% y/y.
The supply of gasoline inventories in the week ended April 22 was 26.5 days, down from 30.4 days three months earlier. The supply of crude oil rose to 26.4 days from 26.2 days in the prior week.
These data are reported by the Energy Information Administration of 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 are in USENERGY.
