Petroleum Report for Week Ending 1/6/06

[BoeingBoy]

With the holidays and all, I've missed reporting for a couple of weeks, so here's the synopsis of this week's EIA report for the week ending 1/6/06:

U.S. crude oil imports averaged nearly 9.9 million barrels per day last week, down 188,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged 10.0 million barrels per day, a decrease of 48,000 barrels per day from the comparable four weeks last year.

U.S. commercial crude oil inventories (excluding those in the SPR) dropped by 2.9 million barrels from the previous week. At 318.7 million barrels, U.S. crude oil inventories remain well above the upper end of the average range for this time of year.

U.S. crude oil refinery inputs averaged nearly 15.3 million barrels per day during the week ending January 6, up 19,000 barrels per day from the previous week's average. Refineries operated at 89.8 percent of their operable capacity last week.

Total products supplied over the last four-week period has averaged 21.4 million barrels per day, or 1.4 percent more than averaged over the same period last year. Jet fuel demand is up 3.9 percent over the last four weeks compared to the same four-week period last year.

The average world crude oil price on January 6, 2006 was $55.12, $3.39 more than last week

 

[BoeingBoy]

Sorry gang. I edited to make the columns line up a little better and all the numbers disappeared. Here they are:

Spot prices for jet fuel..01/06....12/29....12/23....12/16....12/09....12/02....11/18....11/11....11/04....10/28....10/21....10/14....10/07......9/30.....9/23
New York Harbor.......$1.8520 $1.7710 $1.7650 $1.7435 $1.7430 $1.7100 $1.6945 $1.7400 $1.8135 $2.0050 $2.0275 $2.1150 $2.3050 $2.4200 $2.0700
Gulf Coast...............$1.8345 $1.7608 $1.7050 $1.7198 $1.7218 $1.6800 $1.6470 $1.6900 $1.7655 $1.9640 $1.9325 $2.3050 $2.8400 $2.6450 $2.1750
Los Angeles.............$1.8950 $1.8113 $1.8000 $1.7750 $1.6350 $1.7150 $1.7000 $1.7550 $1.8300 $1.9150 $1.8850 $2.0350 $2.0850 $2.3050 $2.0000

Spot prices for crude....01/06..12/29..12/23...12/16..12/09..12/02..11/18...11/11..11/04...10/28..10/21..10/14...10/07....9/30....9/23
WTI Cushing..............$64.21 $60.26 $58.08 $58.01 $59.41 $59.31 $56.30 $57.45 $60.60 $61.30 $61.05 $62.61 $61.81 $66.21 $64.67

Current crude prices:

Bloomberg reports WTI closed @ $63.94 on 1/11/06.

Finally, average spot prices of jet fuel (per gallon) by month (by quarter once the quarter is over). I've added a couple of lines here - the average price East and West paid for jet fuel in the quarters as reported in quarterly reports. A note for the West figure - it does not include hedging benefits, which lowered West's fuel cost per gallon significantly.

Delivery point.....1Q05.....2Q05.....3Q05.....4Q05....Jan06*
NY Harbor......$1.4861 $1.5833 $1.9253 $1.8834 $1.8282
Gulf Coast.....$1.4400 $1.5649 $1.9263 $1.9451 $1.8068
Los Angeles...$1.5228 $1.7008 $1.9585 $1.8354 $1.8821
East Paid......$1.4720 $1.6800 $1.8800
West Paid**..$1.4170 $1.6690 $1.9200
*thru 1/10/06
**Ex-hedging gains

Jim

 

[robbedagain]

wonder whatever happen to USA320Pilot? he hasnt been on here to give his reports anymore

 

[BoeingBoy]

Finally, the chart of monthly average spot prices for WTI and jet fuel for 2004 & 2005:

View attachment 4069

Jim