Planck E PressCenter - Reports

Energy Week in Review #33/2023

Location: Amsterdam, Netherlands
Date published: 2023-05-25
Date modified: 2023-05-25
Reading time: 00:02:09

Author: Caspar Bensik

Energy Week in Review #33/2023

Crude Oil

Between May 17 and May 23, 2023, the WTI (Western Texas Intermediate) crude oil contracts closed trading at US$ 71.81, gaining 1.4% in a week, and US$ 44.38 less than a year ago. The spread with Brent Crude Oil Spot Price on May 23, was US$3.96.

U.S. oil production averaged 12.300 million barrels per day, 0.82% 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 7.864 MMB/D, down 1.017 MMB/D from one week ago and a decrease of 1.106 MMB/D compared to one year back. On the other hand, U.S. Crude Oil and Petroleum exports reached 10.100 MMB/D, 0.706 MMB/D down from one week ago and falling behind 0.277 MMB/D relative to one year ago.

U.S. crude oil refinery net inputs reached 16.069 MMB/D, up 0.079 MMB/D from one week ago and up 0.036 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 28.7, 0.8 days less than one week ago, and up 2.8 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
1 Week

US$ Change
1 Year
Conventional Gasoline US$ 2.578 7.15% US$ -1.349
Heating Oil US$ 2.208 0.82% US$ -1.753
Diesel Fuel (Ultra-low-sulfur) US$ 2.371 0.55% US$ -1.567
Kerosene US$ 2.201 0.82% US$ -1.622

Natural Gas

The Henry Hub spot price fell by US$ 0.060 from May 16, to close at US$ 2.220 MMBtu on May 23. Compared to one year ago, the NG price decreased by US 6.970 MMBtu.

The total supply of U.S. natural gas was 113.8 billion cubic feet in the week ending on 05/23, which is 0.39999999999999 bcf/d more than a week ago and 3.8 bcf/d more than a year ago. Concerning U.S. demand, the last measured week reached 63.5 bcf/d, down 1.2 bcf/d from a week ago and up 2.4bcf/d during a year.


The most recent U.S. price indicators for electricity (03/2023) indicate an average residential retail price of US$ 15.85/kWh (5.88% in one year), an average industrial price of US$ 7.91/kWh (-5.50% in one year) and an average transportation price of 12.56/kWh (16.30% in one year).

Electricity Generation (Megawatthours - daily average):

Source 05/23/2023 % Change 1 Week % Change 1 Year
Wind 36,640 46.56% -12.19%
Solar 20,789 -1.41% 11.77%
Hydro 39,087 -7.08% 3.47%
Other 8,904 2.84% 21.81%
Petroleum 941 66.86% 112.31%
Natural Gas 176,934 -4.76% 8.12%
Coal 66,925 -4.68% -24.82%
Nuclear 87,215 4.01% -0.74%
Total 437,434 0.05% -2.00%

EIA Price Forecast

Energy Type

Forecast 12/2024

WTI (dollars per barrel)


Brent (dollars per barrel)


Natural Gas (dollars per thousand cubic feet)


Electricity - Residential Retail (cents per kilowatt-hour)


This weekly Energy Report was crafted by Planck E with sources from: and

For emission reduction purposes, we recommend the book The Science behind Carbon Credits and their Calculation.

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