Planck E PressCenter - Reports


Energy Week in Review #31/2023


Location: Amsterdam, Netherlands
Date published: 2023-05-11
Date modified: 2023-05-11
Reading time: 00:02:09

Author: Caspar Bensik

Energy Week in Review #31/2023

Crude Oil

Between May 03 and May 09, 2023, the WTI (Western Texas Intermediate) crude oil contracts closed trading at US$ 73.68, gaining 2.7% in a week, and US$ 31.82 less than a year ago. The spread with Brent Crude Oil Spot Price on May 09, was US$4.08.

U.S. oil production averaged 12.300 million barrels per day, 0.00% more than 1 week ago, but 0.400 MMB/D more than 1 year ago.

Crude Oil and Petroleum Products imports to the U.S. equated to 7.610 MMB/D, down 0.738 MMB/D from one week ago and a decrease of 0.953 MMB/D compared to one year back. On the other hand, U.S. Crude Oil and Petroleum exports reached 9.237 MMB/D, 1.420 MMB/D down from one week ago and falling behind 0.327 MMB/D relative to one year ago.

U.S. crude oil refinery net inputs reached 15.745 MMB/D, up 0.010 MMB/D from one week ago and down 0.190 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 29.3, 0.1 days more than one week ago, and up 2.5 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
05/09/2023

% Change
1 Week

US$ Change
1 Year
Conventional Gasoline US$ 2.552 9.01% US$ -1.200
Heating Oil US$ 2.228 5.00% US$ -2.706
Diesel Fuel (Ultra-low-sulfur) US$ 2.388 5.38% US$ -2.951
Kerosene US$ 2.233 6.23% US$ -1.861


Natural Gas

The Henry Hub spot price rose by US$ 0.100 from May 02, to close at US$ 2.220 MMBtu on May 09. Compared to one year ago, the NG price decreased by US 5.310 MMBtu.

The total supply of U.S. natural gas was 113.4 billion cubic feet in the week ending on 05/09, which is 1.2 bcf/d less than a week ago and 3.7 bcf/d more than a year ago. Concerning U.S. demand, the last measured week reached 65.4 bcf/d, down 5.1 bcf/d from a week ago and up 2.4bcf/d during a year.

Electricity

The most recent U.S. price indicators for electricity (02/2023) indicate an average residential retail price of US$ 15.96/kWh (6.61% in one year), an average industrial price of US$ 8.15/kWh (-2.63% in one year) and an average transportation price of 13.35/kWh (23.61% in one year).

Electricity Generation (Megawatthours - daily average):

Source 05/09/2023 % Change 1 Week % Change 1 Year
Wind 53,518 63.27% -13.80%
Solar 19,247 -4.65% 8.55%
Hydro 38,285 5.44% 17.57%
Other 7,941 11.48% -0.98%
Petroleum 564 -55.15% 46.71%
Natural Gas 167,837 -3.13% -0.50%
Coal 60,571 -0.31% -29.09%
Nuclear 79,750 1.64% -5.60%
Total 427,712 4.28% -6.89%


EIA Price Forecast

Energy Type

Forecast 12/2024

WTI (dollars per barrel)

67.00

Brent (dollars per barrel)

72.00

Natural Gas (dollars per thousand cubic feet)

4.34

Electricity - Residential Retail (cents per kilowatt-hour)

14.98



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.

Most Recent Presscenter Reports



Planck E - Books




Keywords

  • energy week review
  • petroleum week review
  • natural gas market review
  • electricity week review
  • gasoline week review

For further information about Planck E PressCenter, please contact us.


Divulging ingenious solutions

The mission of the Planck E PressCenter is to promote ideas, products and theories that have not yet reached the mainstream, as captured in our first release Eccentrics and their Ingenious Solutions.

Being Data, the book

Open your mind to a revolutionary approach to business intelligence and big data.

Newsletter

Sign up for our weekly Planck E Newsletter, complete with the latest ingenious solutions.
Click here for the signup form.

Submit your ingenious solution

We encourage you to submit your ingenious solution, article, press release or "out of the mainstream" technical idea for publication on the Planck E PressCenter. Please send us an e-mail to presscenter@planck-e.com and enquire how.


To learn more about holistic engineering, solutions inspired by nature, monetization of diseconomies, training courses or the incorporation of Being Data to your day-to-day, please follow us on the social networks.