Planck E PressCenter - Reports

Energy Week in Review #34/2023

Location: Amsterdam, Netherlands
Date published: 2023-06-01
Date modified: 2023-06-01
Reading time: 00:02:09

Author: Caspar Bensik

Energy Week in Review #34/2023

Crude Oil

Between May 24 and May 30, 2023, the WTI (Western Texas Intermediate) crude oil contracts closed trading at US$ 68.11, losing 5.2% in a week, and US$ 47.15 less than a year ago. The spread with Brent Crude Oil Spot Price on May 31, was US$5.27.

U.S. oil production averaged 12.200 million barrels per day, 0.81% less than 1 week ago, but 0.300 MMB/D more than 1 year ago.

Crude Oil and Petroleum Products imports to the U.S. equated to 9.313 MMB/D, up 1.449 MMB/D from one week ago and an increase of 0.539 MMB/D compared to one year back. On the other hand, U.S. Crude Oil and Petroleum exports reached 11.194 MMB/D, 1.094 MMB/D up from one week ago and exceeding 3.088 MMB/D relative to one year ago.

U.S. crude oil refinery net inputs reached 16.165 MMB/D, up 0.096 MMB/D from one week ago and down 0.222 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, 0.0 days more than one week ago, and up 2.9 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
1 Week

US$ Change
1 Year
Conventional Gasoline US$ 2.536 -1.63% US$ -1.513
Heating Oil US$ 2.096 -5.07% US$ -2.057
Diesel Fuel (Ultra-low-sulfur) US$ 2.259 -4.72% US$ -1.854
Kerosene US$ 2.091 -5.00% US$ -1.842

Natural Gas

The Henry Hub spot price fell by US$ 0.120 from May 23, to close at US$ 2.100 MMBtu on May 31. Compared to one year ago, the NG price decreased by US 6.370 MMBtu.

The total supply of U.S. natural gas was 114.5 billion cubic feet in the week ending on 05/31, which is 0.7 bcf/d more than a week ago and 4.9 bcf/d more than a year ago. Concerning U.S. demand, the last measured week reached 62.0 bcf/d, down 1.5 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 (2.92% in one year), an average industrial price of US$ 7.91/kWh (-11.72% in one year) and an average transportation price of 12.56/kWh (5.19% in one year).

Electricity Generation (Megawatthours - daily average):

Source 05/31/2023 % Change 1 Week % Change 1 Year
Wind 50,047 36.59% 26.32%
Solar 20,456 -1.60% 2.69%
Hydro 33,455 -14.41% -11.17%
Other 9,000 1.08% 1.65%
Petroleum 849 -9.81% -16.15%
Natural Gas 189,885 7.32% -4.74%
Coal 68,622 2.54% -34.92%
Nuclear 90,940 4.27% 0.13%
Total 463,253 5.90% -7.84%

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.

Most Recent Presscenter Reports

Planck E - Books


  • 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.


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 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.