Tag: prices
US gasoline prices higher in 2017
Texas gasoline taxes among lowest in United States U.S. regular retail gasoline prices averaged $2.41 per gallon (gal) in 2017, 27 cents/gal (13 per cent) higher than in 2016, but two cents/gal less than in 2015, according to the U.S. Energy Information Administration. Higher crude oil prices in 2017 contributed to higher gasoline prices. In 3 of the […]
Crude oil prices increased in 2017, and Brent-WTI spread widened
US crude oil production increased in 2017 by 384,000 b/d, more growth forecast to 2030 Crude oil prices ended 2017 at the highest levels since 2013 and West Texas Intermediate (WTI) crude oil prices averaged $51/b in 2017, up $7/b from the 2016 average, and ended the year at $60/b, $6/b higher than at the […]
Energy commodity prices increased in the second half of 2017
Less natural gas used in U.S. electricity generation during summer of 2017 compared with 2016 After decreasing nearly 20 per cent in the first half of 2017, the spot energy index in the Standard and Poor’s (S&P) Goldman Sachs Commodity Index (GSCI) ended 2017 16 per cent higher than the beginning of the year, according […]
Is $60 oil a new normal for the industry? – IEA
Strong demand in oil still expected in the short term Oil Market Report, International Energy Agency The events in Saudi Arabia have added extra momentum to the rally that has driven oil prices from lows of $45/bbl (Brent) in late June to around $63/bbl recently, according to the International Energy Agency. To date, we have […]
US gasoline prices this Thanksgiving are higher than previous two years
American gasoline prices continue to be closely linked to crude oil prices Heading into the Thanksgiving holiday weekend, U.S. retail regular-grade gasoline averaged $2.57 per gallon (gal), up 41 cents/gal from the same time last year, according to the U.S. Energy Information Administration. Although gasoline prices are higher than in both 2015 and 2016, the […]
Transportation constraints, export costs widen Brent-WTI crude oil price spread
China is second-largest destination for U.S. crude oil exports In its Nov. Short-Term Energy Outlook (STEO), EIA forecasts the price difference between West Texas Intermediate (WTI) crude oil priced at Cushing, Oklahoma, and Brent, the global crude oil price benchmark, to remain at $6 per barrel (b) through the first quarter of 2018 before narrowing to $4/b […]
Widening Brent-WTI price spread unlikely to change East Coast crude oil supply
Restrictions on exporting domestic oil were removed, refiners now compete with international buyers for domestic oil In Sept. and Oct. 2017, the difference between domestic and foreign crude oil prices has risen to the highest level since 2015, according to the U.S. Energy Information Administration. In the past, price differences between West Texas Intermediate (WTI) […]
Australian domestic natural gas prices increase as LNG exports rise
Projected natural gas supply shortfall in domestic market of up to 0.27 billion cubic feet per day in 2018 Australia became the world’s second-largest exporter of liquefied natural gas (LNG) in 2015 and is likely to overtake Qatar as the world’s largest LNG exporter by 2019, according to the U.S. Energy Information Administration. As Australia’s LNG […]
Spark, dark spreads indicate profitability of natural gas, coal power plants
Coal has averaged 34% higher than delivered natural gas costs Relative profits for some natural gas- and coal-fired generators in several Midwestern and Mid-Atlantic states may have decreased since 2016 because of higher natural gas and coal prices and lower wholesale electricity prices, according to U.S. Energy Information Administration. A common measure of profitability for […]
US heating costs likely to be higher this winter
Heating oil use much more common in Northeast regions Most U.S. households can expect higher heating expenditures this winter (October through March) than the last two winters according to EIA’s Winter Fuels Outlook. Higher expected winter heating expenditures are the result of both more heating demand because of relatively colder weather and, to a lesser extent, […]
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