Planck E PressCenter - Reports

Energy Week in Review #64/2024

Location: Amsterdam, Netherlands
Date published: 2024-02-01
Date modified: 2024-02-01
Reading time: 00:02:09

Author: Caspar Bensik

Energy Week in Review #64/2024

Crude Oil

Between January 24 and January 30, 2024, the WTI (Western Texas Intermediate) crude oil contracts closed trading at US$ 77.25, gaining 2.6% in a week, and US$ 0.91 more than a year ago. The spread with Brent Crude Oil Spot Price on January 30, was US$6.74.

U.S. oil production averaged 13.000 million barrels per day, 5.69% 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 7.276 MMB/D, up 0.075 MMB/D from one week ago and a decrease of 2.764 MMB/D compared to one year back. On the other hand, U.S. Crude Oil and Petroleum exports reached 9.819 MMB/D, 0.944 MMB/D down from one week ago and exceeding 0.657 MMB/D relative to one year ago.

U.S. crude oil refinery net inputs reached 14.848 MMB/D, down 0.428 MMB/D from one week ago and down 0.562 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 26.7, 0.9 days more than one week ago, and down 3.5 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

% Change
1 Week

US$ Change
1 Year
Conventional Gasoline US$ 2.266 2.72% US$ -0.244
Heating Oil US$ 2.753 6.05% US$ -0.062
Diesel Fuel (Ultra-low-sulfur) US$ 2.833 5.36% US$ -0.180
Kerosene US$ 2.786 7.40% US$ -0.179

Natural Gas

The Henry Hub spot price rose by US$ 0.110 from January 23, to close at US$ 2.260 MMBtu on January 30. Compared to one year ago, the NG price decreased by US 0.390 MMBtu.

The total supply of U.S. natural gas was 112.8 billion cubic feet in the week ending on 01/30, which is 0 bcf/d more than a week ago and 1.7 bcf/d less than a year ago. Concerning U.S. demand, the last measured week reached 114.0 bcf/d, up 0 bcf/d from a week ago and up 2.4bcf/d during a year.


The most recent U.S. price indicators for electricity (10/2023) indicate an average residential retail price of US$ 16.21/kWh (1.44% in one year), an average industrial price of US$ 8.09/kWh (-0.12% in one year) and an average transportation price of 13.88/kWh (6.85% in one year).

Electricity Generation (Megawatthours - daily average):

Source 01/30/2024 % Change 1 Week % Change 1 Year
Wind 32,601 82.34% 3.66%
Solar 17,001 142.04% 54.18%
Hydro 32,820 14.62% -0.89%
Other 8,985 1.55% -3.41%
Petroleum 998 138.14% -22.61%
Natural Gas 197,034 -8.52% -9.34%
Coal 87,353 -21.82% -21.49%
Nuclear 89,730 -4.39% -3.13%
Total 466,521 -3.57% -8.06%

EIA Price Forecast

Energy Type

Forecast 12/2025

WTI (dollars per barrel)


Brent (dollars per barrel)


Natural Gas (dollars per thousand cubic feet)


Electricity - Residential Retail (cents per kilowatt-hour)


Fuel prices in the European Union – January 30, 2024

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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