Planck E PressCenter - Reports
Energy Week in Review #7/2022
Date published: 2022-10-27
Date modified: 2022-10-27
Reading time: 00:02:09
Crude Oil
Between October 19 and October 24, 2022, the WTI (Western Texas Intermediate) crude oil contracts closed trading at US$ 86.12, gaining 3.4% in a week, and US$ 3.46 more than a year ago. The spread with Brent Crude Oil Spot Price on October 24, was US$5.45.
U.S. oil production averaged 12.000 million barrels per day, equal to 1 week ago, but 0.500 MMB/D more than 1 year ago.
Crude Oil and Petroleum Products imports to the U.S. equated to 8.419 MMB/D, up 0.680 MMB/D from one week ago and an increase of 0.204 MMB/D compared to one year back. On the other hand, U.S. Crude Oil and Petroleum exports reached 11.426 MMB/D, 1.958 MMB/D up from one week ago and exceeding 3.165 MMB/D relative to one year ago.
U.S. crude oil refinery net inputs reached 15.436 MMB/D, down 0.114 MMB/D from one week ago and up 0.413 MMB/D compared to the same period last year.
Regarding the number of days of crude oil supply in the U.S., the week ended with the mark of 28.1, 0.3 days more than one week ago, and down 0.8 days compared to one year ago.
In relation to petroleum derivatives, we had the following price changes during the week:
| Product (NY Harbor) |
Price per gallon |
% Change |
US$ Change 1 Year |
| Conventional Gasoline | US$ 2.701 | -5.89% | US$ 0.193 |
| Heating Oil | US$ 4.122 | -9.09% | US$ 1.754 |
| Diesel Fuel (Ultra-low-sulfur) | US$ 4.372 | 10.99% | US$ 1.867 |
| Kerosene | US$ 3.749 | 6.99% | US$ 1.478 |
Natural Gas
The Henry Hub spot price fell by US$ 0.990 from October 18, to close at US$ 5.170 MMBtu on October 24. Compared to one year ago, the NG price decreased by US 0.740 MMBtu.
The total supply of U.S. natural gas was 111.1 billion cubic feet in the week ending on 10/24, which is 0.5 bcf/d more than a week ago and 4.5 bcf/d more than a year ago. Concerning U.S. demand, the last measured week reached 68.5 bcf/d, down 5.8 bcf/d from a week ago and up 2.4bcf/d during a year.
Electricity
The most recent U.S. price indicators for electricity (08/2022) indicate an average residential retail price of US$ 15.95/kWh (13.20% in one year), an average industrial price of US$ 9.72/kWh (29.08% in one year) and an average transportation price of 12.81/kWh (24.73% in one year).
Electricity Generation (Megawatthours - daily average):
| Source | 10/24/2022 | % Change 1 Week | % Change 1 Year |
|---|---|---|---|
| Wind | 48,539 | 43.08% | -29.68% |
| Solar | 12,627 | 21.09% | 13.39% |
| Hydro | 20,117 | 5.31% | -17.22% |
| Other | 7,952 | -26,47% | -14.30% |
| Petroleum | 952 | 5.67% | -0.02% |
| Natural Gas | 157,194 | -9.32% | 3.76% |
| Coal | 76,735 | -13.98% | 3.10% |
| Nuclear | 78,044 | 0,24% | 4.19% |
EIA Price Forecast
|
Energy Type |
Forecast 12/2023 |
|
WTI (dollars per barrel) |
91.00 |
|
Brent (dollars per barrel) |
97.00 |
|
Natural Gas (dollars per thousand cubic feet) |
5.74 |
|
Electricity - Residential Retail (cents per kilowatt-hour) |
14.42 |
Fuel prices in the European Union – October 24, 2022
| Euro-super 95 | Automotive gas oil | Heating gas oil | Fuel oil | Fuel oil - Sulphur > 1% |
|
| 1000L | 1000L | 1000L | t | t | |
| Austria | 1,764 | 2,045 | 1,674.89 | 777.7 | |
| Belgium | 1,837.05 | 2,149.16 | 1,366.8 | 550.03 | |
| Bulgaria | 1,428.01 | 1,666.17 | 1,309.78 | ||
| Croatia | 1,473.25 | 1,871.19 | 1,346.88 | 921.99 | |
| Cyprus | 1,473.63 | 1,878.16 | 1,430.74 | 995.37 | |
| Czechia | 1,752.39 | 1,934.16 | 1,497.1 | N.A | |
| Denmark | 2,089.13 | 2,200.71 | 2,287.15 | 1,368.82 | |
| Estonia | 1,927 | 1,971 | 1,543 | ||
| Finland | 2,055 | 2,214 | 1,934 | ||
| France | 1,704.97 | 1,905.26 | 1,662.48 | 775.51 | |
| Germany | 1,962 | 2,138 | 1,612.03 | ||
| Greece | 2,026 | 2,139 | 1,403 | 667.83 | |
| Hungary | 1,265.11 | 1,690.11 | 1,690.11 | 818.11 | |
| Ireland | 1,823.8 | 2,018.3 | 1,319 | 1,013.91 | |
| Italy | 1,691.24 | 1,880.08 | 1,882.22 | 736.11 | |
| Latvia | 1,834 | 1,963 | 1,487.88 | ||
| Lithuania | 1,713.36 | 1,907.9 | 1,376.7 | 338.8 | |
| Luxembourg | 1,717 | 2,021 | 1,358 | ||
| Malta | 1,340 | 1,210 | 1,000 | ||
| Netherlands | 2,024 | 2,141 | 1,902 | 745 | |
| Poland | 1,432.3 | 1,678.34 | 1,534.72 | 758.66 | 709.35 |
| Portugal | 1,835 | 1,953 | 1,889 | 1,010.24 | |
| Romania | 1,533.61 | 1,802.89 | 1,879.11 | 799.38 | |
| Slovakia | 1,735 | 1,881 | 763.1 | 756.46 | |
| Slovenia | 1,426.71 | 1,709.12 | 1,404.69 | ||
| Spain | 1,763.29 | 1,972.9 | 1,438.34 | 710.16 | |
| Sweden | 1,937.9 | 2,502.46 | 1,608.92 | 1,080.19 | |
| EUR27_2020 Weighted average |
1806.529787 | 1973.51039 | 1600.2903 | 795.8238303 | 687.1194433 |
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.
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Keywords
- energy week review
- petroleum week review
- natural gas market review
- electricity week review
- gasoline week review
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