REGULARLY SCHEDULED WEEKLY RELEASES:
Gasoline and Diesel Fuel Update
Presents average weekly retail on-highway diesel fuel prices for the U.S., 8 regions, and the State of California and average weekly retail gasoline prices at the national and regional levels, and for selected cities and States.
This Week in Petroleum
Provides analysis, data, and charts of the latest weekly petroleum supply and price data.
Weekly Natural Gas Storage Report
Contains weekly estimates of natural gas in underground storage for the United States and three regions of the United States.
Natural Gas Weekly Update
Contains weekly updates of natural gas market prices, latest storage level estimates, recent lower 48 NOAA weather data, and other market activity or events.
OTHER RELEASES THIS WEEK:
EIA projects lower coal use by U.S. power sector in 2012
Coal consumption by the U.S. electric power sector in 2012 is expected to fall below 900 million short tons for the first time since 1996 as the electric industry increased its use of natural gas for power generation, EIA projected in its March Short-Term Energy Outlook.
Monthly Natural Gas Gross Production Report
Monthly natural gas gross withdrawals estimated from data collected on Form EIA-914 (Monthly Natural Gas Production Report) for Federal Offshore Gulf of Mexico, Texas, Louisiana, New Mexico, Oklahoma, Texas, Wyoming, Other States and Lower 48 States. Alaska data are from the State of Alaska and included to obtain a U.S. Total.
Monthly Energy Review
The March report includes the first complete set of 2011 preliminary statistics for U.S. total energy consumption, production, trade, and carbon dioxide emissions. Preliminary data indicate that U.S. total primary energy consumption equaled 98 quadrillion Btu in 2011, essentially the same as in 2010.
On a euro basis, Brent crude oil spot price surpasses prior record high
On a euro basis, the spot price for Brent crude oil has surpassed its prior record high and set a new record high of 96.53 euros per barrel on March 13, 2012, as the currency exchange rate has declined (see chart below). The prior record of 92.76 euros per barrel was set on July 3, 2008. However, on a U.S. dollar basis, the spot price for Brent crude oil remains under the prior record high of $145.66 per barrel, which was set on July 3, 2008.
Electric Power Monthly
Data are for January 2012, during which net generation in the United States fell 6.4 percent from the January 2011 level. Consumption of coal for power generation fell 21.7 percent compared to January 2011. The average retail price of electricity for January 2012 was 9.65 cents per kilowatthour, 1.0 percent higher than January 2011, when the price was 9.55 cents per kWh.
Nearly 69% of U.S. crude oil imports originated from five countries in 2011
The amount of crude oil the United States imported from its top five foreign suppliers—Canada, Saudi Arabia, Mexico, Venezuela, and Nigeria—increased slightly during 2011, even though total U.S. crude oil imports fell to their lowest level in 12 years. As a result, the crude oil from these five countries accounted for a bigger share of overall U.S. crude oil imports, nearly 69%, or just over 6.1 million barrels per day.
Electricity Monthly Update
This issue contains data for January 2012 as well as a feature article on the relationship between retail and wholesale electricity prices in Rhode Island.
Gasoline prices rise due to increased crude oil costs
The national average price of regular grade gasoline averaged $3.58 per gallon for the month of February 2012, representing a 37-cent (11.5%) increase compared to February 2011 and an historic high for the month of February in both real and nominal prices. However, as a result of vehicle fuel economy improvements, costs-per-mile-driven are not at record highs. Further, gasoline prices vary significantly by region, with average prices on the West Coast almost $1 per gallon more expensive than those in the Rocky Mountains. The seasonally-high retail prices are mostly a result of global crude oil prices, which have also been at record levels for this time of year.
U.S. coal production in 2012 falls below five-year range
Coal production the week ending March 10, 2012 was below the five—year range and 10% lower than the week ending March 12, 2011, according to weekly preliminary estimates from the U.S. Energy Information Administration and the latest quarterly production data from Mine Safety and Health Administration (MSHA). Warm weather this winter along with high stockpile levels and strong competition from natural gas depressed demand for coal by U.S. electric generators, which accounted for over 93% of total domestic coal use in the first nine months of 2011.
EIA provides new breakout of natural gas storage inventories in the Producing Region
As of March 22, 2012, EIA will provide new breakouts for inventory levels at salt cavern and nonsalt cavern facilities for the weekly estimates of working gas in underground natural gas storage inventories in the Producing Region. This new breakout of regional natural gas stocks should help analysts assess more comprehensively the relationship between inventory changes and types of storage facilities.
Electricity Wholesale Market Data
Spreadsheets contain peak prices, volumes, and the number of transactions at five electricity trading hubs covering most regions of the United States. Data from ICE (IntercontinentalExchange) through March 16, 2012.