- Japan: First Ten Days Trade (Mar), International Trade, Foreign Banks Foreign Banks in Japan (Feb)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts/Statistical Balance Sheet, Foreign Currency Assets, Liabilities, and Currency Flows (Feb); Australia: Flow of Funds (Q4), Job Vacancies (Q1)
- Korea: Building Permits (Feb); Philippines: LFS (Q3)
- US: IIP (Q4)
- more updates...
Economy in Brief
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...
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...
by Tom Moeller January 18, 2017
Energy prices notched lower last week. Regular gasoline prices slipped to $2.36 per gallon (+23.2% y/y) from $2.39 per gallon in the prior week. Haver Analytics constructs factors adjusting for the seasonal variation in these pump prices. Weakness in gasoline demand generally leads to lower prices at this time of year. The seasonally adjusted price was little changed $2.70 per gallon and remained near the highest level since December 2014.
Crude oil prices eased as well. WTI crude oil prices of $52.08 per barrel (+70.3% y/y) last week compared to $53.34 during the week prior. Prices remained near the highest level since July 2015.
Natural gas prices declined to $3.26 per mmbtu last week (+40.6% y/y) from $3.35.
Last week, gasoline demand improved 0.7% y/y, while demand for all petroleum products rose 1.3% y/y. Gasoline inventories remained unchanged y/y, and inventories of all petroleum products increased 2.2% y/y. Crude oil input to refineries rose 1.2% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
|Weekly Energy Prices||01/16/17||01/09/17||01/02/17||Y/Y %||2016||2015||2014|
|Retail Gasoline ($ per Gallon, Regular)||2.36||2.39||2.38||23.2||2.31||2.03||2.30|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||52.08||53.34||53.59||70.3||43.22||48.90||93.64|
|Natural Gas ($/mmbtu, LA, WSJ)||3.26||3.35||3.67||40.6||2.49||2.62||4.37|