- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
by Tom Moeller July 6, 2016
Regular gasoline prices fell to $2.29 per gallon last week (-18.0% y/y), down from $2.40 early last month, according to the U.S. Department of Energy. Nevertheless, prices remained near the highest level since early September. Prices are down, however, versus a 2014 high of $3.71 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices, and the adjusted price declined to $2.14 per gallon, the lowest level since late May. Spot market gasoline prices fell w/w to $1.42, down from May's high of $1.64.
Prices for natural gas jumped to $2.86 per mmbtu last week (2.5% y/y) from $2.72 in the week prior, and were $2.82 yesterday.
Yesterday, WTI crude oil prices fell to $46.60 per barrel. They remained up, however, versus February's daily low of $26.21 per barrel. During all of last week, WTI crude oil costs fell to $48.19 per barrel (-16.8% y/y). Brent crude oil prices eased w/w to $49.47 per barrel, then were $49.02 yesterday.
Last week, gasoline demand increased 1.8% y/y, while demand for all petroleum products gained 2.0% y/y. Gasoline inventories rose 10.3% y/y and inventories of all petroleum products increased a diminished 5.9% y/y. Crude oil production (input to refineries) eased 0.8% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
|Weekly Energy Prices||07/04/16||06/27/16||06/20/16||Y/Y %||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||2.29||2.33||2.35||-18.0||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||48.19||48.86||47.92||-16.8||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||2.86||2.72||2.57||2.5||2.62||4.37||3.73|