- US: IIP (Q4)
- Zambia: BOP (Q4); Israel: Credit Card Purchases (Feb); UAE: CPI (Feb); Saudi Arabia: GDP (Q4-Prelim)
- Hungary: Employment (Feb); Bulgaria: Business Survey (Mar); Kazakhstan: Consolidated Budget (Feb)
- Sweden: Consumer Confidence, Business Tendency Survey, Public Finance (Mar); Iceland: PPI (Feb)
- Spain: Mortgage Market (Jan), Order Book Forecast (Mar)
- Italy: ISTAT Business & Consumer Survey (Mar)
- more updates...
Economy in Brief
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
by Tom Moeller October 25, 2016
Regular gasoline prices dipped to $2.24 per gallon (+0.7% y/y) last week, but remained near 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 $2.28 per gallon, the highest level since early-January.
WTI crude oil prices improved to $50.63 per barrel last week (+12.1% y/y). Yesterday, prices were fairly steady at $50.52 per barrel, up from a daily low of $26.21 per barrel in February. Brent crude oil prices dipped to $51.77 per barrel last week, then were $51.42 yesterday.
Natural gas prices of $3.10 per mmbtu last week were nearly one-third higher versus a year earlier. Prices declined sharply to $2.75 yesterday.
Last week, gasoline demand increased 0.2% y/y, while demand for all petroleum products improved 3.6% y/y. Gasoline inventories rose a diminished 3.7% y/y and inventories of all petroleum products increased 3.2% y/y. Crude oil production (input to refineries) gained 1.9% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
Are Banks Being Roiled by Oil? from the Federal Reserve Bank of New York can be found here.
|Weekly Energy Prices||10/24/16||10/17/16||10/10/16||Y/Y %||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||2.24||2.26||2.27||0.7||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||50.63||50.42||49.50||12.1||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||3.10||3.15||2.89||30.7||2.62||4.37||3.73|