Saturday, May 27, 2023
Review of PCE, GDP, etc., for end of May, 2023
Natural Gas Inventory Report, May 27, 2023
The Energy Information Administration released their weekly report on Thursday.
Prices in all West Coast markets declined yesterday from last Wednesday. The price at PG&E Citygate in Northern California fell 95 cents, down from $4.13/MMBtu last Wednesday to $3.18/MMBtu yesterday. The price at SoCal Citygate in Southern California decreased 33 cents from $2.58/MMBtu last Wednesday to $2.25/MMBtu yesterday. The price at Sumas on the Canada-Washington border fell 21 cents from $1.83/MMBtu last Wednesday to $1.62/MMBtu yesterday. Natural gas consumption in the Western region decreased by 1% (0.1 Bcf/d), which was led by a 4% (0.1 Bcf/d) decrease in consumption in the electric power sector. In Northern California, PG&E’s total gas in storage was 12.6 billion cubic feet (Bcf) as of May 23, up from 5.8 Bcf on May 1.
Select inventories of EU and UK...
Prices continue to fall on the UK and EU markets. The UK spread of futures is annually at £1,453.60 ~ £2,191.06, with OFGEM setting the cap at £2,074. That cap is consistent with NatGas prices through October, with an added 3.7% cushion.
Wednesday, May 24, 2023
Gasoline consumption per latest EIA data, May 24, 2023
Gasoline prices (per AAA) edged up this week, from $3.532 to $3.561. One year ago the price had ballooned to $4.598
Consumption increased +0.2% from last week, and stands 1.5% above year ago numbers. (This is a four week moving average).
Crude and Petroleum Product Inventories - May 24 2023
Crude stocks dropped rather dramatically -12.4M barrels, from last week, and remains down -4.0% from the 5 year seasonal average. It should be noted the 5 year average includes the abnormal 2020 and 2021 number. Otherwise, the current inventory is nearly +1.0% above normal.
Distillates slid -500K; and Gasoline inventories slid -2.0M barrels. The SPR fell another -1.6M barrels.
Friday, May 19, 2023
Natural Gas Inventory Report, May 19, 2023
The Energy Information Administration released their weekly report on Thursday.
Wednesday, May 17, 2023
Gasoline consumption per latest EIA data, May 17, 2023
Gasoline prices were (per AAA) were flat this week, from $3.531 to $3.532. So okay... one tenth of once cent more. A year ago, the price had ballooned to $4.452.
Consumption increased +0.4% from last week, and stands 1.6% above year ago numbers. (This is a four week moving average).
Crude and Petroleum Product Inventories - May 17 2023
Today's EIA.gov report.
Crude stocks jumped +5.0M barrels, from last week, and remains down -1.7% from the 5 year seasonal average. It should be noted the 5 year average includes the abnormal 2020 and 2021 number. Otherwise, the current inventory is nearly +2.8% above normal.
Distillates held steady; and Gasoline inventories slid -1.3M barrels. The SPR fell another -2.4M barrels.
A Foray into the 2024 Presidential Election, Part XVI
Really not seeing any major shifts, although the Minnesota margin widened ever so slightly. Still too difficult to read. The unadjusted poll...
-
The BLS has released the April, 2024 Producer Price Index Report . ( historical releases ) The Producer Price Index for final demand rose...
-
On to the Real Earnings . There seems to be a downward trend, across the board, even with downward revisions of previous months data. An in...
-
First up is the BLS Report for CPI ...( historical releases ) The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percen...