- US: Advance Durable Goods, Advance Trade & Inventories (Mar)
- Brazil: PPI (Mar); Mexico: Compensation and Productivity (Feb)
- Canada: Payroll Employment, Earnings, & Hours (Feb)
- Spain: Advanced HICP & CPI, Construction Business Survey Press (Apr)
- Belgium: CPI (Apr)
- Germany: GfK Consumer Climate Survey, State CPI: Bavaria, Saxony, Berlin, Hesse, North Rhine-Westphalia, Brandenburg (Apr)
- Building Permits (Feb)
- UK: Motor Vehicle Production (Mar)
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
by Tom Moeller March 1, 2016
Petroleum prices stabilized last week following steady declines since the June highs. Regular gasoline averaged $1.78 per gallon last week (-27.9% y/y), up from $1.73 and the highest level since early in the month, according to the U.S. Department of Energy. The price compares to a 2014 high of $3.71 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices, and the adjusted price eased to $1.81 per gallon.
WTI crude oil costs increased to $32.24 per barrel last week (-34.4% y/y) from $30.02 in the prior week. Yesterday, prices continued to rebound to $33.75 per barrel, the highest level since mid-January. Prices remained well below the peak of $113.93 in April 2011. Brent crude oil prices increased w/w to $34.56 per barrel and rose further to $36.64 yesterday, up from $27.73 in late January.
Prices for natural gas continued to decline last week to $1.78 per mmbtu (-42.2% y/y), and were $1.62 yesterday.
Last week, gasoline demand strengthened 5.2% y/y, but demand for all petroleum products notched just 0.2% higher y/y. Gasoline inventories improved 6.9% y/y, while inventories of all petroleum products gained 8.6% y/y. Crude oil production (input to refineries) increased 1.4% y/y during the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
|Weekly Energy Prices||02/29/16||02/22/16||02/16/16||Y/Y %||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||1.78||1.73||1.72||-27.9||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||32.24||30.02||28.13||-34.4||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||1.78||1.88||2.14||-42.2||2.62||4.37||3.73|