- US: GDP & Corporate Profits (Q4, 3rd release)
- Canada: Industrial Products & Raw Material Prices (Feb)
- Spain: Flash HICP and CPI, Construction Business Survey Press (Mar)
- Euro area: EC Business and Consumer Surveys (Mar)
- Belize: GDP (Q4)
- Chile: IP (Feb); Brazil: Retail Trade - Rebased 2014=100 (Jan)
- Croatia: Employment, Retail Trade Press (Feb), Earnings (Jan); Bulgaria: PPI (Feb); Montenegro: Wages (Feb); Latvia: Retail Trade (Jan); Lithuania: External Debt Service (Q4);
- more updates...
Economy in Brief
U.S. Initial Claims for Unemployment Insurance Ease
Initial jobless insurance applications fell to 258,000 (-3.1% y/y) during the week ended March 25...
U.S. Pending Home Sales Jump
The NAR reported that pending home sales increased 5.5% in February to an index level of 112.3...
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
The MBA total Mortgage Market Volume Index slipped 0.8% last week (-12.4% y/y)...
La Dolce Vita? Italian Confidence Bumps Higher
Italian business and consumer confidence moved higher in March...
U.S. Consumer Confidence Improves Significantly
The Conference Board Consumer Confidence Index for March strengthened 8.2% (30.7% y/y) to 125.6...
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...
by Tom Moeller November 15, 2016
Energy product prices continued to decline last week. Regular gasoline prices declined to $2.18 per gallon (+0.3% y/y) last week, the lowest level since mid-August. Prices remained down versus a 2014 high of $3.71 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices. The adjusted price fell to $2.29 per gallon.
WTI crude oil prices fell to $44.64 per barrel last week (+4.5% y/y). Yesterday, prices fell further to $43.32 per barrel, but remained up versus a daily low of $26.21 per barrel in February. Brent crude oil prices declined to $45.73 per barrel last week, then were $44.51 yesterday.
Natural gas prices declined 9.6% (+5.9% y/y) last week to $2.20 per mmbtu. Prices have fallen from $3.15 four weeks ago, and neared the lowest level since early May. Prices were $2.22 yesterday.
Last week, gasoline demand declined 2.1% y/y, while demand for all petroleum products improved 1.5% y/y. Gasoline inventories rose 3.6% y/y and inventories of all petroleum products increased 3.2% y/y. Crude oil production (input to refineries) eased 0.6% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
|Weekly Energy Prices||11/14/16||11/07/16||10/31/16||Y/Y %||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||2.18||2.23||2.23||0.3||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||44.64||45.51||49.45||4.5||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||2.20||2.43||2.69||5.9||2.62||4.37||3.73|