- Japan: **Japan Tokyo employment index rebased to 2015=100**
- Saudi Arabia: Non-Oil Foreign Trade (Feb); Kuwait: CPI (Mar); Tanzania: BOP, Trade, Depository Corporations Survey, Public Finance (Feb)
- Portugal: OMFIs Balance Sheet (Feb)
- Luxembourg: Employment and Unemployment (Mar)
- Kazakhstan: GDP by Income, Labor Productivity Index (Q4), Loans and Deposits, Monetary Aggregates, Banking System Surveys, Public Finance (Mar)
- more updates...
Economy in Brief
Fresh Six-Year PMI Highs for Euro Area
The 'fresh six-year high' is a pleasant surprise that continues, but...
Philadelphia Fed Factory Conditions Soften
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index fell to 22.0 during April...
U.S. Leading Economic Indicators Suggest Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.5% y/y) during March...
U.S. Initial Unemployment Insurance Applications Increase
Initial unemployment claims for unemployment insurance rose to 244,000 during the week ended April 15 (-5.1% y/y)...
Japan's 'Trade Trends' Stabilize on an Unstable Foundation
Japan trade trends, broadly considered, seem to be stabilizing...
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Applications Volume Index declined 1.8% last week (-24.9% y/y)...
by Tom Moeller September 13, 2016
Regular gasoline prices fell to $2.20 per gallon (-7.3% y/y) last week following an easing to $2.23 during the week prior, according to the U.S. Department of Energy. Prices remained down 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 was steady at $2.12 per gallon.
WTI crude oil costs increased slightly to $45.96 per barrel last week (1.8% y/y) from $45.11 per barrel. Prices have been trending sideways since May and remained up from February's daily low of $26.21 per barrel. Yesterday, prices were $46.29 per barrel. Brent crude oil prices rose to $47.51 per barrel last week, then were $47.82 yesterday.
Prices for natural gas eased to $2.85 per mmbtu (+5.2% y/y) last week, but increased to $2.99 yesterday, the highest level since May 2015.
Last week, gasoline demand increased 3.2% y/y, while demand for all petroleum products improved 2.4% y/y. Gasoline inventories rose 6.2% y/y and inventories of all petroleum products increased 5.0% y/y. Crude oil production (input to refineries) gained 1.8% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
|Weekly Energy Prices||09/12/16||09/05/16||08/29/16||Y/Y %||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||2.20||2.23||2.24||-7.3||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||45.96||45.11||47.22||1.8||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||2.85||2.91||2.79||5.2||2.62||4.37||3.73|