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Economy in Brief
Kansas City Fed Manufacturing Index Dips in May But Remains Strong
The Kansas City Fed reported that its manufacturing sector business activity index declined to 23 in May...
U.S. Pending Home Sales Decline Sharply in April
Home buying remains under pressure...
U.S. Unemployment Claims Eased Slightly in the Latest Week
Initial claims for unemployment insurance filed in the week ended May 21 were 210,000 (-52.4% y/y)...
Italian Confidence Makes Small Bounce in May; Is It a Signal or Is It Noise?
Italian business and consumer confidence indexes both are substantially lower in May...
U.S. Durable Goods Orders Increase Modestly in April
Manufacturers' new orders for durable goods increased 0.4% during April (12.2% y/y)...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
State Coincident Indexes in April 2022
State Labor Markets in April 2022
Profits & 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
by Tom Moeller April 21, 2015
Gasoline prices increased last week to an average $2.49 cents per gallon. Prices were at their highest level since the middle of December, but remained down by roughly one-third versus a year ago. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices. The seasonally adjusted price rose last week to $2.39 per gallon.
During the week ended April 17, WTI crude oil prices rose to an average $54.82 per barrel (-47.3% y/y). This was the most expensive since late-December. Yesterday, prices improved to $56.38 per barrel. These prices compare to a June peak of $107.95. The seasonally adjusted price, generated by Haver Analytics, gained last week to $50.65 per barrel. Brent crude oil prices increased to $59.12 per barrel last week (-45.8% y/y) and were $61.20 yesterday.
Natural gas prices slipped to $2.58 (-43.9% y/y) per mmbtu during the week ended April 17. Prices slipped to $2.56 yesterday.
Gasoline inventories grew 8.4% y/y, but they have fallen sharply during the last two months. Inventories of all petroleum products, however, increased 9.4% y/y and their level continues to surge. Gasoline demand inched 0.7% higher y/y and improved during the last two months. Demand for all petroleum products rose 4.3% y/y but it too has slackened sharply this year.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 04/20/15 | 04/13/15 | 04/06/15 | Y/Y% | 2014 | 2013 | 2012 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon, Regular) | 2.49 | 2.41 | 2.41 | -32.4 | 2.30 | 3.33 | 3.30 |
Light Sweet Crude Oil, WTI ($ per bbl., WSJ) | 54.82 | 51.78 | 48.95 | -47.3 | 93.64 | 97.96 | 94.20 |
Natural Gas ($/mmbtu, LA, WSJ) | 2.58 | 2.63 | 2.61 | -43.9 | 4.37 | 3.73 | 2.7 |