- Japan: Index of Business Conditions (Feb-Final), Electric Power Generated (Jan)
- Spain: Services Sector Activity, New Orders and Turnovers (Feb)
- Finland: PPI, Domestic Supply Prices (Mar)
- US: NABE Business Conditions Survey (Q1)
- Indonesia: Non-Oil and Gas Trade (Feb); Taiwan: Labor Market (Mar)
- Egypt: IP (Feb)
- 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 October 4, 2016
Regular gasoline prices rose to $2.25 per gallon (-3.1% y/y), the highest level since early July. Prices remained down, however, versus a 2014 high of $3.71 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices. The adjusted price increased to $2.21 per gallon, the highest level since mid-June.
WTI crude oil prices rose to $46.67 per barrel last week (3.7% y/y), but remained down versus the June high of $50.19. Prices hit a daily low of $26.21 per barrel in February. Yesterday, prices increased further to $48.81 per barrel. Brent crude oil prices rose to $48.25 per barrel last week, then were $50.82 yesterday.
Natural gas prices declined to $2.97 per mmbtu (+21.1% y/y) from the prior week's high of $3.07. Prices eased to $2.81 yesterday.
Last week, gasoline demand increased 3.6% y/y, while demand for all petroleum products improved 2.7% y/y. Gasoline inventories rose a weakened 2.3% y/y and inventories of all petroleum products increased 4.5% y/y. Crude oil production (input to refineries) gained 2.8% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
Digging into the Downward Trend in Consumer Inflation Expectations from the Federal Reserve Bank of Cleveland is available here.
|Weekly Energy Prices||10/03/16||09/26/16||09/19/16||Y/Y %||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||2.25||2.22||2.23||-3.1||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||46.67||44.64||44.34||3.7||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||2.97||3.07||3.00||21.1||2.62||4.37||3.73|