Planck E PressCenter - Reports
Energy Week in Review #10/2022
Date published: 2022-11-17
Date modified: 2022-11-17
Reading time: 00:02:09
Crude Oil
Between November 08 and November 15, 2022, the WTI (Western Texas Intermediate) crude oil contracts closed trading at US$ 86.87, losing 5.4% in a week, and gaining US$ 8.55 relative to a year ago. The spread with Brent Crude Oil Spot Price on November 15, was US$7.43.
U.S. oil production averaged 12.100 million barrels per day, equal to 1 week ago, but 0.600 MMB/D more than 1 year ago.
Crude Oil and Petroleum Products imports to the U.S. equated to 7.854 MMB/D, down 0.733 MMB/D from one week ago and a decrease of 0.577 MMB/D compared to one year back. On the other hand, U.S. Crude Oil and Petroleum exports reached 9.887 MMB/D, 0.195 MMB/D up from one week ago and exceeding 2.391 MMB/D relative to one year ago.
U.S. crude oil refinery net inputs reached 16.152 MMB/D, up 0.063 MMB/D from one week ago and up 0.512 MMB/D compared to the same period last year.
Regarding the number of days of crude oil supply in the U.S., the week ended with the mark of 27.4, 0.6 days less than one week ago, and down 0.9 days compared to one year ago.
In relation to petroleum derivatives, we had the following price changes during the week:
| Product (NY Harbor) |
Price per gallon |
% Change |
US$ Change 1 Year |
| Conventional Gasoline | US$ 2.930 | 8.48% | US$ 0.690 |
| Heating Oil | US$ 4.335 | -3.11% | US$ 2.103 |
| Diesel Fuel (Ultra-low-sulfur) | US$ 3.332 | -9.80% | US$ 0.960 |
| Kerosene | US$ 3.242 | -6.00% | US$ 1.067 |
Natural Gas
The Henry Hub spot price rose by US$ 1.900 from November 07, to close at US$ 5.900 MMBtu on November 15. Compared to one year ago, the NG price increased by US 1.080 MMBtu.
The total supply of U.S. natural gas was 113.3 billion cubic feet in the week ending on 11/15, which is 0.8 bcf/d more than a week ago and 6.5 bcf/d more than a year ago. Concerning U.S. demand, the last measured week reached 90.4 bcf/d, up 18.2 bcf/d from a week ago and up 2.4bcf/d during a year.
Electricity
The most recent U.S. price indicators for electricity (07/2022) indicate an average residential retail price of US$ 15.46/kWh (9.57% in one year), an average industrial price of US$ 9.43/kWh (26.41% in one year) and an average transportation price of 12.26/kWh (16.98% in one year).
Electricity Generation (Megawatthours - daily average):
| Source | 11/15/2022 | % Change 1 Week | % Change 1 Year |
|---|---|---|---|
| Wind | 26,975 | -27.13% | -62.42% |
| Solar | 10,538 | 37.43% | 6.45% |
| Hydro | 25,738 | 12.10% | -5.41% |
| Other | 7,938 | -5.00% | -0.78% |
| Petroleum | 1,344 | 25.87% | 134.58% |
| Natural Gas | 164,358 | 40.15% | 16.99% |
| Coal | 70,042 | 60.00% | -5.91% |
| Nuclear | 75,344 | 10.07% | -15.95% |
| Total | 382,276 | 24.69% | -9.42% |
EIA Price Forecast
|
Energy Type |
Forecast 12/2023 |
|
WTI (dollars per barrel) |
92.00 |
|
Brent (dollars per barrel) |
98.00 |
|
Natural Gas (dollars per thousand cubic feet) |
5.82 |
|
Electricity - Residential Retail (cents per kilowatt-hour) |
14.35 |
Fuel prices in the European Union – November 15, 2022
| Euro-super 95 (I) |
Automotive gas oi | Heating gas oil | Fuel oil | |
| 1000L | 1000L | 1000L | t | |
| Austria | 1,715 | 1,937 | 1,515.04 | 877.9 |
| Belgium | 1,920.91 | 2,003.1 | 1,215.3 | 555.81 |
| Bulgaria | 1,416.86 | 1,668.93 | 1,497.88 | |
| Croatia | 1,585.24 | 1,890.02 | 1,360.9 | 945.34 |
| Cyprus | 1,522.75 | 1,857.41 | 1,375.69 | 995.37 |
| Czechia | 1,718.97 | 1,854.54 | 1,327.19 | N.A |
| Denmark | 2,062.33 | 2,012.58 | 2,125.92 | 1,368.88 |
| Estonia | 1,889 | 1,952 | 1,473 | |
| Finland | 2,028 | 2,228 | 1,770 | |
| France | 1,685.52 | 1,802.03 | 1,527.56 | 768.33 |
| Germany | 1,923 | 1,986 | 1,476.62 | |
| Greece | 2,106 | 2,071 | 1,319 | 667.83 |
| Hungary | 1,279.16 | 1,600.11 | 1,600.11 | 946.28 |
| Ireland | 1,812.3 | 2,025.2 | 1,143.95 | 1,012.43 |
| Italy | 1,709.93 | 1,852.46 | 1,800.17 | 732.11 |
| Latvia | 1,795.37 | 1,934.33 | 1,502.25 | |
| Lithuania | 1,682.24 | 1,870.53 | 1,223.81 | |
| Luxembourg | 1,723 | 1,825 | 1,257 | |
| Malta | 1,340 | 1,210 | 1,000 | |
| Netherlands | 1,944 | 1,937 | 1,902 | 745 |
| Poland | 1,410.46 | 1,668.25 | 1,485.59 | 768.69 |
| Portugal | 1,785 | 1,797 | 1,778 | 993.86 |
| Romania | 1,566.26 | 1,833.06 | 1,749.33 | 825.32 |
| Slovakia | 1,725 | 1,869 | 752.25 | |
| Slovenia | 1,462.81 | 1,770.27 | 1,459.18 | |
| Spain | 1,784.84 | 1,939.9 | 1,374.73 | 695.53 |
| Sweden | 1,925.3 | 2,367.68 | 1,616.8 | 1,087.15 |
| CE/EC/EG EUR27_2020 (IV) Weighted average |
1792.702564 | 1889.807618 | 1470.774751 | 790.783261 |
This weekly Energy Report was crafted by Planck E with sources from: https://www.eia.gov/ and https://energy.ec.europa.eu/
For emission reduction purposes, we recommend the book The Science behind Carbon Credits and their Calculation.
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Keywords
- energy week review
- petroleum week review
- natural gas market review
- electricity week review
- gasoline week review
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