In June 2008, S&P Global Platts launched the world's first daily iron ore price assessment, IODEX, from its Singapore office. Over the next two years, this price would gradually replace the old benchmark as more companies opted to price their physical iron ore using modern market-tracking techniques.
(Wed, 27 Jun 2018) U.S. regular-grade retail gasoline prices averaged $2.89 per gallon (gal) in June, down from a high of $2.96/gal on May 28. EIA estimates that gasoline prices will remain lower than the May 28 price for the rest of the summer, reaching $2.84/gal in September. Gasoline prices are often higher in summer months when gasoline demand is higher and when federal and state environmental regulations require the use of summer-grade gasoline, which is more expensive to manufacture. Following the summer, EIA expects gasoline prices to decline to $2.68/gal by December.
(Tue, 26 Jun 2018) Starting with the May 2018 release of the <em>Petroleum Supply Monthly</em>, EIA now publishes U.S. petroleum export data by region, defined as Petroleum Administration for Defense District (PADD), of origin and by country of destination. Before this change, users could only see the total amount exported from each U.S. PADD, but not the actual destination associated with those PADD-level exports.
(Mon, 25 Jun 2018) Consumption of hydrocarbon gas liquids (HGL) in the United States totaled 928 million barrels in 2016, up about 12% since 2010. During the same time, total U.S. HGL prices fell by 47% and, consequently, expenditures decreased by about 41%. In 2016, total U.S. HGL expenditures were $32 billion, the lowest since 2003.
If electric vehicles, which rely wholly or partly on electricity stored in batteries as their source of energy, revolutionize road transport in the way many expect, demand for lithium will rise exponentially. China will be at the forefront of this.
(Fri, 22 Jun 2018) In 2017, a group of the worldâs largest publicly traded oil and natural gas producers added more hydrocarbons to their resource base than in any year since 2013, according to the annual reports of 83 exploration and production companies. Collectively, these companies added a net 8.2 billion barrels of oil equivalent (BOE) to their proved reserves during 2017, which totaled 277 billion BOE at the end of the year.
Steel consumers and producers in the US are duking it out. The battle is mostly under the radar and in the back rooms and alleys surrounding the Trump administration’s chaotic trade policy.
(Thu, 21 Jun 2018) Venezuela holds the largest oil reserves in the world and used to rank among worldâs largest petroleum producers. However, in the wake of political and economic instability in the country, crude oil production has dramatically decreased, reaching a multi-decades low in mid-2018.
(Thu, 21 Jun 2018) Every month, EIA collects information about all utility-scale power plants in the United States, including planned projects reported by developers. EIA relies on information reported by developers and plant owners to track electricity generating capacity, upcoming retirements, and planned new capacity on a monthly basis.
(Wed, 20 Jun 2018) U.S. electric utilities reported spending $3.6 billion on energy efficiency customer incentives in 2016, or an average of $24 per customer, according to EIAâs survey of electric power sales, revenue, and energy efficiency. Energy efficiency spending is reported on an incremental basis, reflecting new programs operating for the first time in 2016 (including start-up costs) or new participants in existing programs.
