Planck E PressCenter - Reports

Energy Week in Review #65/2024

Location: Amsterdam, Netherlands
Date published: 2024-02-08
Date modified: 2024-02-08
Reading time: 00:02:09

Author: Caspar Bensik

Energy Week in Review #65/2024

Crude Oil

Between January 31 and February 06, 2024, the WTI (Western Texas Intermediate) crude oil contracts closed trading at US$ 73.21, losing 5.2% in a week, and US$ 4.83 less than a year ago. The spread with Brent Crude Oil Spot Price on February 06, was US$6.09.

U.S. oil production averaged 13.300 million barrels per day, 2.31% more than 1 week ago, but 1.000 MMB/D more than 1 year ago.

Crude Oil and Petroleum Products imports to the U.S. equated to 8.986 MMB/D, up 1.710 MMB/D from one week ago and an increase of 0.501 MMB/D compared to one year back. On the other hand, U.S. Crude Oil and Petroleum exports reached 9.968 MMB/D, 0.149 MMB/D up from one week ago and exceeding 0.762 MMB/D relative to one year ago.

U.S. crude oil refinery net inputs reached 14.840 MMB/D, down 0.008 MMB/D from one week ago and down 0.187 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 27.7, 1.0 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$ 2.238 -1.24% US$ -0.341
Heating Oil US$ 2.661 -3.34% US$ 0.014
Diesel Fuel (Ultra-low-sulfur) US$ 2.734 -3.49% US$ -0.075
Kerosene US$ 2.639 -5.28% US$ -0.163

Natural Gas

The Henry Hub spot price fell by US$ 0.160 from January 30, to close at US$ 2.100 MMBtu on February 06. Compared to one year ago, the NG price decreased by US 0.300 MMBtu.

The total supply of U.S. natural gas was 117.9 billion cubic feet in the week ending on 02/06, which is 5.1 bcf/d more than a week ago and 6.7 bcf/d more than a year ago. Concerning U.S. demand, the last measured week reached 91.0 bcf/d, down 23 bcf/d from a week ago and up 2.4bcf/d during a year.


The most recent U.S. price indicators for electricity (11/2023) indicate an average residential retail price of US$ 16.19/kWh (1.31% in one year), an average industrial price of US$ 7.90/kWh (-2.47% in one year) and an average transportation price of 14.06/kWh (8.24% in one year).

Electricity Generation (Megawatthours - daily average):

Source 02/06/2024 % Change 1 Week % Change 1 Year
Wind 76,972 136.10% 4.39%
Solar 14,706 -13.50% 5.50%
Hydro 30,887 -5.89% 6.64%
Other 5,480 -39.01% -35.04%
Petroleum 645 -35.39% -53.01%
Natural Gas 169,161 -14.15% 7.82%
Coal 70,394 -19.41% 9.22%
Nuclear 95,942 6.92% 2.58%
Total 464,186 -0.50% 5.18%

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 – February 06, 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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