Planck E PressCenter - Reports
Weekly Energy Report of 9-22 to 9-28, 2022
Date published: 2022-09-29
Date modified: 2022-09-29
Reading time: 00:03:12
Crude Oil
Between September 19 and 26, 2022, the WTI (Western Texas Intermediate) crude oil contracts closed trading at US$77.17, losing 10.4% in a week, but worth still US$9.04 more than a year ago. The spread with Brent Crude Oil Spot Price on September 26, was US$5.38. U.S. oil production averaged 12.000 million barrels per day, 0.8% less than 1 week ago, but 1.400MMB/D more than 1 year ago.
Crude Oil and Petroleum Products imports to the U.S. equated to 8.290MMB/D, down 0.690MMB/D from one week ago and a decrease of 0.656MMB/D compared to one year back. On the other hand, U.S. Crude Oil and Petroleum exports reached 10.984MMB/D, 0.788MMB/D up from one week ago and exceeding 3.888MMB/D relative to one year ago.
U.S. crude oil refinery net inputs reached 15.751MMB/D, down 604KBPD from one week ago and up 404KBPD compared to the same period last year.
Regarding the number of days of crude oil supply in the U.S., the week of 09/23/22 ended with the mark of 26.9, 0.2 days more than one week ago, and down 0.7 days compared to one year ago.
In relation to petroleum derivatives, we had the following price changes during the week:
| Product (NY Harbor) |
Price per gallon |
% Change |
US$ Change 1 Year |
| Conventional Gasoline | US$2.418 | -9.30% | US$0.291 |
| Heating Oil | US$2.965 | -5.51% | US$1.051 |
| Diesel Fuel (Ultra-low-sulfur) | US$3.150 | -5.01% | US$1.054 |
| Kerosene | US$3.052 | -0.13% | US$1.194 |
Natural Gas
The Henry Hub spot price fell by US$0.85 from September 19, to close at US$6.903MMBtu on September 26. Compared to one year ago, the NG price increased by US$1.672. The total supply of U.S. natural gas was 110.5 billion cubic feet in the week ending on 9/26, which is 0.5bcf/d less than a week ago and 3.7bcf/d more than a year ago. Concerning U.S. demand, the last measured week reached 66.7bcf/d, down 0.7bcf/d from a week ago and up 2.4bcf/d during a year.
Electricity
The most recent U.S. key indicators for electricity (July 2022) represent a total net generation of 424,685 thousand MWh (+4.9% in one year), an average residential retail price of US$0.1546/kWh (+11.5% in one year), and coal consumption of 49,285 thousand tons (-12.6% in one year).
Electricity Generation (Megawatthours - average hourly peak loads/day):
| Source | Sep - 26 / 2022 | % Change 1 Week |
| Wind | 35,970 | -29,45% |
| Solar | 17,905 | +10.73% |
| Hydro | 24,425 | no change |
| Other | 12,271 | +13.47% |
| Petroleum | 319 | -67.48% |
| Natural Gas | 186,338 | -11.99% |
| Coal | 80,325 | -18.35% |
| Nuclear | 85,771 | -4.12% |
| Total | 443,221 | -11.88% |
EIA Price Forecast
|
Energy Type |
Forecast 2023 |
|
WTI (dollars per barrel) |
90.91 |
|
Brent (dollars per barrel) |
96.91 |
|
Natural Gas (dollars per thousand cubic feet) |
16.36 |
|
Electricity (cents per kilowatt-hour) |
15.24 |
Fuel prices in the European Union – 9/26/2022
| Euro-super 95 (I) |
Automotive gas oil | Heating gas oil | Fuel oil | Fuel oil - Sulphur > 1% |
| 1000L | 1000L | 1000L | t | t |
| Austria | 1,679 | 1,917 | 1,612.83 | 786.7 |
| Belgium | 1,689.46 | 1,885.4 | 1,214.7 | 558.5 |
| Bulgaria | 1,450.61 | 1,601.08 | 1,451.07 | |
| Croatia | 1,448.9 | 1,779.94 | 1,188.93 | 922.31 |
| Cyprus | 1,459.5 | 1,824.9 | 1,396.7 | 1,115.54 |
| Czechia | 1,532.39 | 1,749.15 | 1,283.36 | N.A |
| Denmark | 2,029.18 | 1,985.48 | 2,112.96 | 1,358.43 |
| Estonia | 1,827 | 1,846 | 1,362 | |
| Finland | 1,994 | 2,051 | 1,697 | |
| France | 1,547.32 | 1,659.3 | 1,509.96 | 781.19 |
| Germany | 1,951 | 2,013 | 1,515.84 | |
| Greece | 1,949 | 1,823 | 1,606 | 667.83 |
| Hungary | 1,250.14 | 1,556.92 | 1,556.92 | 842.89 |
| Ireland | 1,759 | 1,879 | 1,227.05 | 935.57 |
| Italy | 1,656.12 | 1,761.73 | 1,789.38 | 740.22 |
| Latvia | 1,710 | 1,762.77 | 1,287.65 | |
| Lithuania | 1,655.41 | 1,774.18 | 1,157.16 | 338.8 |
| Luxembourg | 1,648 | 1,810 | 1,229 | |
| Malta | 1,340 | 1,210 | 1,000 | |
| Netherlands | 1,928 | 1,943 | 1,899 | 743 |
| Poland | 1,325.16 | 1,506.37 | 1,385.31 | 642.69 |
| Portugal | 1,688 | 1,737 | 1,753 | 1,007.45 |
| Romania | 1,488.64 | 1,724.91 | 1,828.77 | 840.71 |
| Slovakia | 1,638 | 1,813 | 756.38 | 749.74 |
| Slovenia | 1,372.91 | 1,712.03 | 1,403.73 | |
| Spain | 1,680.99 | 1,822.01 | 1,307.29 | 630.86 |
| Sweden | 1,738.27 | 2,202.79 | 1,566.51 | 1,066.21 |
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.
Keywords
- energy prices
- energy week review
- EIA energy prices
- petroleum prices
- energy economy
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