Planck E PressCenter - Reports
Energy Week in Review #9/2022
Date published: 2022-11-10
Date modified: 2022-11-10
Reading time: 00:02:09
Crude Oil
Between November 02 and November 07, 2022, the WTI (Western Texas Intermediate) crude oil contracts closed trading at US$ 91.80, gaining 3.9% in a week, corresponding to an increase of US$ 10.57 related to a year ago. The spread with Brent Crude Oil Spot Price on November 07, was US$8.07.
U.S. oil production averaged 12.100 million barrels per day, 1.68% more than 1 week ago, and 0.700 MMB/D more than 1 year ago.
Crude Oil and Petroleum Products imports to the U.S. equated to 8.587 MMB/D, up 0.499 MMB/D from one week ago and a decrease of 0.037 MMB/D compared to one year back. On the other hand, U.S. Crude Oil and Petroleum exports reached 9.692 MMB/D, 0.230 MMB/D up from one week ago and exceeding 0.923 MMB/D relative to one year ago.
U.S. crude oil refinery net inputs reached 16.089 MMB/D, up 0.247 MMB/D from one week ago and up 0.692 MMB/D compared to the same period last year.
Regarding the number of days of crude oil supply in the U.S., the week ended with the mark of 28.0, equal to one week ago, and down 0.5 days compared to one year ago.
In relation to petroleum derivatives, we had the following price changes during the week:
| Product (NY Harbor) |
Price per gallon |
% Change |
US$ Change 1 Year |
| Conventional Gasoline | US$ 2.701 | -12.73% | US$ 0.301 |
| Heating Oil | US$ 4.474 | 11.79% | US$ 2.166 |
| Diesel Fuel (Ultra-low-sulfur) | US$ 3.694 | 2.55% | US$ 1.239 |
| Kerosene | US$ 3.449 | 4.23% | US$ 1.191 |
Natural Gas
The Henry Hub spot price fell by US$ 0.570 from November 01, to close at US$ 4.000 MMBtu on November 07. Compared to one year ago, the NG price decreased by US 0.560 MMBtu.
The total supply of U.S. natural gas was 112.5 billion cubic feet in the week ending on 11/07, which is 0.7 bcf/d more than a week ago and 4.1 bcf/d more than a year ago. Concerning U.S. demand, the last measured week reached 72.2 bcf/d, up 1.9 bcf/d from a week ago and up 2.4bcf/d during a year.
Electricity
The most recent U.S. price indicators for electricity (07/2022) indicate an average residential retail price of US$ 15.46/kWh (9.57% in one year), an average industrial price of US$ 9.43/kWh (26.41% in one year) and an average transportation price of 12.26/kWh (16.98% in one year).
Electricity Generation (Megawatthours - daily average):
| Source | 11/07/2022 | % Change 1 Week | % Change 1 Year |
|---|---|---|---|
| Wind | 37,019 | -24.66% | -39.18% |
| Solar | 7,668 | -29.90% | -23.73% |
| Hydro | 22,960 | -4.44% | -12.49% |
| Other | 8,355 | -18.92% | 5.10% |
| Petroleum | 1,068 | 5.40% | -0.51% |
| Natural Gas | 117,274 | -26.24% | -14.83% |
| Coal | 43,775 | -41.98% | -42.46% |
| Nuclear | 68,452 | -14.13% | -20.94% |
| Total | 306,573 | -25.15% | -24.59% |
EIA Price Forecast
|
Energy Type |
Forecast 12/2023 |
|
WTI (dollars per barrel) |
92.00 |
|
Brent (dollars per barrel) |
98.00 |
|
Natural Gas (dollars per thousand cubic feet) |
5.82 |
|
Electricity - Residential Retail (cents per kilowatt-hour) |
14.35 |
Fuel prices in the European Union – November 07, 2022
| Euro-super 95 | Automotive gas oil | Heating gas oil | Fuel oil | |
| 1000L | 1000L | 1000L | t | |
| Austria | 1,736 | 2,022 | 1,602.42 | 866.9 |
| Belgium | 1,837.34 | 2,034.5 | 1,337.6 | 571.68 |
| Bulgaria | 1,416.96 | 1,661.98 | 1,559.42 | |
| Croatia | 1,516.29 | 1,928.36 | 1,346.6 | 946.47 |
| Cyprus | 1,497.52 | 1,873.24 | 1,412.58 | 995.37 |
| Czechia | 1,730.42 | 1,905.19 | 1,384.84 | N.A |
| Denmark | 2,115.79 | 2,133.27 | 2,246.58 | 1,368.68 |
| Estonia | 1,890 | 1,952 | 1,513 | |
| Finland | 2,046 | 2,211 | 1,906 | |
| France | 1,679.66 | 1,831.93 | 1,570.4 | 785.46 |
| Germany | 1,974 | 2,087 | 1,509.59 | |
| Greece | 2,094 | 2,091 | 1,353 | 667.83 |
| Hungary | 1,291.65 | 1,657.71 | 1,657.71 | 897.69 |
| Ireland | 1,819 | 2,026.9 | 1,218.95 | 1,026.67 |
| Italy | 1,687.73 | 1,858.56 | 1,848.91 | 745.89 |
| Latvia | 1,795.37 | 1,959.33 | 1,527.25 | |
| Lithuania | 1,694.96 | 1,892.22 | 1,375.91 | |
| Luxembourg | 1,722 | 1,830 | 1,261 | |
| Malta | 1,340 | 1,210 | 1,000 | |
| Netherlands | 2,029 | 2,072 | 1,902 | 745 |
| Poland | 1,412.1 | 1,692.49 | 1,526.74 | 770.76 |
| Portugal | 1,823 | 1,879 | 1,812 | 990.39 |
| Romania | 1,558.03 | 1,829.68 | 1,928.46 | 846.08 |
| Slovakia | 1,724 | 1,916 | 749.81 | |
| Slovenia | 1,448.71 | 1,807.55 | 1,496.27 | |
| Spain | 1,771.32 | 1,963.98 | 1,393.63 | 689.43 |
| Sweden | 1,962.98 | 2,510.25 | 1,673.93 | 1,077.64 |
| CE/EC/EG EUR27_2020 (IV) Weighted average |
1810.777591 | 1939.013932 | 1523.506989 | 790.9800368 |
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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