Planck E PressCenter - Reports
Energy Week in Review #18/2023
Date published: 2023-02-09
Date modified: 2023-02-09
Reading time: 00:02:09
Crude Oil
Between February 01 and February 07, 2023, the WTI (Western Texas Intermediate) crude oil contracts closed trading at US$ 77.17, losing 2.3% in a week, and US$ 12.40 less than a year ago. The spread with Brent Crude Oil Spot Price on February 07, was US$5.75.
U.S. oil production averaged 12.300 million barrels per day, 0.82% more than 1 week ago, but 0.700 MMB/D more than 1 year ago.
Crude Oil and Petroleum Products imports to the U.S. equated to 10.040 MMB/D, up 0.736 MMB/D from one week ago and an increase of 1.789 MMB/D compared to one year back. On the other hand, U.S. Crude Oil and Petroleum exports reached 9.162 MMB/D, 0.108 MMB/D down from one week ago and exceeding 2.583 MMB/D relative to one year ago.
U.S. crude oil refinery net inputs reached 15.410 MMB/D, up 0.449 MMB/D from one week ago and up 0.508 MMB/D compared to the same period last year.
Regarding the number of days of crude oil supply in the U.S., the week ended with the mark of 30.2, 0.3 days less than one week ago, and up 3.3 days compared to one year ago.
In relation to petroleum derivatives, we had the following price changes during the week:
| Product (NY Harbor) |
Price per gallon |
% Change |
US$ Change 1 Year |
| Conventional Gasoline | US$ 2.601 | -2.29% | US$ -0.124 |
| Heating Oil | US$ 2.746 | -8.47% | US$ -0.011 |
| Diesel Fuel (Ultra-low-sulfur) | US$ 2.839 | -11.00% | US$ -0.068 |
| Kerosene | US$ 2.879 | -16.24% | US$ 0.172 |
Natural Gas
The Henry Hub spot price fell by US$ 0.300 from January 31, to close at US$ 2.350 MMBtu on February 07. Compared to one year ago, the NG price decreased by US 1.780 MMBtu.
The total supply of U.S. natural gas was 110.9 billion cubic feet in the week ending on 02/07, which is 0.60000000000001 bcf/d more than a week ago and 8.5 bcf/d more than a year ago. Concerning U.S. demand, the last measured week reached 98.3 bcf/d, down 8.3 bcf/d from a week ago and up 2.4bcf/d during a year.
Electricity
The most recent U.S. price indicators for electricity (11/2022) indicate an average residential retail price of US$ 15.64/kWh (13.09% in one year), an average industrial price of US$ 8.30/kWh (11.11% in one year) and an average transportation price of 11.53/kWh (2.31% in one year).
Electricity Generation (Megawatthours - daily average):
| Source | 02/07/2023 | % Change 1 Week | % Change 1 Year |
|---|---|---|---|
| Wind | 48,102 | 56.11% | -9.82% |
| Solar | 12,779 | 19.15% | -10.66% |
| Hydro | 28,185 | -14.69% | -7.90% |
| Other | 8,266 | -13.27% | -9.20% |
| Petroleum | 1,398 | 10.31% | 49.26% |
| Natural Gas | 167,465 | -22.86% | 6.01% |
| Coal | 74,441 | -33.34% | -28.20% |
| Nuclear | 93,849 | 1.29% | 0.89% |
| Total | 434,485 | -14.27% | -6.15% |
EIA Price Forecast
|
Energy Type |
Forecast 12/2024 |
|
WTI (dollars per barrel) |
69.00 |
|
Brent (dollars per barrel) |
75.00 |
|
Natural Gas (dollars per thousand cubic feet) |
4.58 |
|
Electricity - Residential Retail (cents per kilowatt-hour) |
14.91 |
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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