- Korea: GDP (Q4); Thailand Auto Sales (Feb)
- Turkey: Capacity Utilization, Business Tendency survey (Mar); South Africa: Tourism & Migration (Jan), Manufacturing Survey (Q1)
- Croatia: Tourism (Jan); Montenegro: Foreign Trade (Feb); Czech Republic: CPI by COICOP (Feb), Registered Employment (Q4); Kazakhstan: Loans & Deposits (Feb); Slovenia: Business Cycle Indicators (Mar); Russia: Employment by Industry (Q4);
- more updates...
Economy in Brief
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...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
by Tom Moeller January 4, 2017
The cost of energy products is moving higher. Regular gasoline prices rose to $2.38 per gallon (17.2% y/y) last week, the highest level since early in June. Prices remained down from a 2014 high of $3.71 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in these pump prices. Since weakness in gasoline demand generally leads to lower prices at this time of year, the seasonally adjusted price rose sharply last week to $2.68 per gallon, the highest level since December 2014.
Crude oil prices also continue to strengthen. WTI crude oil prices increased to $53.58 per barrel (44.9% y/y) last week. Prices were up to the highest level since July 2015. Yesterday, prices eased to $52.33 per barrel. Brent crude oil prices increased to $54.45 per barrel last week, then rose to $55.05 per barrel yesterday.
Natural gas prices rose to $3.67/mmbtu last week (64.0% y/y), and made up most of the declines during the prior two weeks. They were close to their highest price level since December 2014. Prices eased to $3.39 yesterday.
Last week, gasoline demand declined 2.8% y/y, while demand for all petroleum products fell 1.5% y/y. Gasoline inventories increased 2.6% y/y, and inventories of all petroleum products increased 2.2% y/y. Crude oil input to refineries eased 0.6% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
|Weekly Energy Prices||01/02/17||12/26/16||12/19/16||Y/Y %||2016||2015||2014|
|Retail Gasoline ($ per Gallon, Regular)||2.38||2.31||2.26||17.2||2.31||2.03||2.30|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||53.58||52.36||51.92||44.9||43.22||48.90||93.64|
|Natural Gas ($/mmbtu, LA, WSJ)||3.67||3.50||3.54||64.0||2.49||2.62||4.37|