(Wed, 18 Apr 2018) U.S. net petroleum trade, including crude oil, petroleum products, and natural gas plant liquids, has fallen in recent years, reaching 3.7 million barrels per day (b/d) in 2017. This is the lowest level of net petroleum trade (imports minus exports) since 1971. At the same time, total U.S. gross petroleum trade (imports and exports) has reached an all-time high of 16.3 million b/d in 2017.
(Tue, 17 Apr 2018) EIAâs <em>Short-Term Energy Outlook</em> forecasts the typical U.S. household will spend an average of $426 for electricity this summer (JuneâAugust), an increase of about 3% from the average summer expenditures in 2017. The expected increase in electricity bills is a result of forecast higher retail electricity prices and slightly higher projected electricity use to meet increased cooling demand.
An initiative to modernize energy trading processes through blockchain was receiving overwhelming interest from market participants, Chief – Operations and IT, Gunvor Group, Eren Zekioglu said in an exclusive interview.
(Mon, 16 Apr 2018) EIAâs <em>Annual Energy Outlook 2018</em> (AEO2018) projects that U.S. dry natural gas production will increase through 2050 across a wide variety of alternative assumptions about the future. In the Reference case, which is based on current laws and regulations, production grows 59% from 2017 to 2050, starting at 73.6 billion cubic feet per day (Bcf/d) in 2017 and reaching 118 Bcf/d in 2050.
The risk of a direct military confrontation between the US and Russia over Syria has raised energy security concerns in Europe. Oil prices touched three-and-half year highs above $72 b/d after US President Donald Trump signaled a possible military response to alleged chemical weapons attacks near Damascus.
The US' declaration that the overnight missile strikes against Syria would be limited and a "one-time shot" may tamp down some of the risk to oil prices spiking when markets open Monday.
(Fri, 13 Apr 2018) Annual state-level estimates of consumption, prices, and expenditures for petroleum coke and other petroleum products for 2016. âOther petroleum productsâ is a category that comprises 11 products, including still gas, petrochemical feedstocks, and special napthas.
(Fri, 13 Apr 2018) Working natural gas in storage in the United States as of March 31, 2018, the end of the 2017â2018 heating season, totaled 1,351 billion cubic feet (Bcf), according to EIAâs estimate based on its Weekly Natural Gas Storage Report. This is the lowest level for U.S. working gas stocks at this time of year since March 31, 2014, when working gas stocks were much lower, at 837 Bcf following the 2013-2014 heating season
(Thu, 12 Apr 2018) EIA forecasts that drivers in the United States will pay an average of $2.74 per gallon (gal) this summer for regular gasoline, the highest average summer gasoline price in four years, according to EIA's <em>Short-Term Energy and Summer Fuels Outlook</em>. EIA's forecast gasoline price for summer 2018 (April through September) is 26 cents/gal higher than the average price last summer, largely reflecting changes in crude oil prices.
With President Donald Trump imposing tariffs on aluminum and steel imports last month, his taking a tougher stand on trade overall, and the US general economy growing at a healthy clip, several key commodity prices were considerably stronger on average through the end of March, compared with on January 19, 2017, the day before his inauguration.
