BoeingBoy
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Sorry about missing last week's update, but here's this weeks. I've put the spot price info for both last weeks and this weeks EIA reports in the data below.
U.S. crude oil imports averaged nearly 9.9 million barrels per day last week, down 570,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged over 10.1 million barrels per day, a decrease of 25,000 barrels per day from the comparable four weeks last year.
U.S. commercial crude oil inventories (excluding those in the SPR) rose by 1.3 million barrels from the previous week. At 322.5 million barrels, U.S. crude oil inventories are well above the upper end of the average range for this time of year. [Hence the drop in imports - domestically, we're almost swimming in crude. Jim]
U.S. crude oil refinery inputs averaged over 14.9 million barrels per day during the week ending December 16, down 298,000 barrels per day from the previous week's average. Refineries operated at 88.0 percent of their operable capacity last week. [Still suffering from refining capacity shortage due to hurricane damage - the easiest repairs have been accomplished and the last 5-8% of capacity to bring it up to the "normal" 95% or so is going to take a while to get back on line. Jim]
Total products supplied over the last four-week period has averaged nearly 21.2 million barrels per day, or 0.7 percent more than averaged over the same period last year. Jet fuel demand is down 1.6 percent over the last four weeks compared to the same four-week period last year.
Spot prices for jet fuel..12/16....12/09....12/02....11/18....11/11....11/04....10/28....10/21....10/14....10/07......9/30.....9/23......9/16.....9/09
New York Harbor.......$1.7435 $1.7430 $1.7100 $1.6945 $1.7400 $1.8135 $2.0050 $2.0275 $2.1150 $2.3050 $2.4200 $2.0700 $1.9450 $2.0100
Gulf Coast...............$1.7198 $1.7218 $1.6800 $1.6470 $1.6900 $1.7655 $1.9640 $1.9325 $2.3050 $2.8400 $2.6450 $2.1750 $1.9050 $1.9488
Los Angeles.............$1.7750 $1.6350 $1.7150 $1.7000 $1.7550 $1.8300 $1.9150 $1.8850 $2.0350 $2.0850 $2.3050 $2.0000 $1.8850 $1.9500
Spot prices for crude....12/02..11/18...11/11..11/04...10/28..10/21..10/14...10/07....9/30....9/23....9/16....9/09
WTI Cushing..............$58.01 $59.41 $59.31 $56.30 $57.45 $60.60 $61.30 $61.05 $62.61 $61.81 $66.21 $64.67 $62.91 $64.21
Brent.......................$58.11 $57.18 $54.91 $52.84 $54.30 $60.48 $59.47 $56.94 $58.45 $57.29 $61.70 $62.17 $60.48 $62.62
Current crude prices:
Bloomberg reports WTI closed @ $58.31 on 12/21/05.
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....Oct05...Nov05...Dec05
NY Harbor......$1.4861 $1.5833 $1.9253 $2.1438 $1.7410 $1.7564
Gulf Coast.....$1.4400 $1.5649 $1.9263 $2.3981 $1.6981 $1.7281
Los Angeles...$1.5228 $1.7008 $1.9585 $2.0166 $1.7365 $1.7275
East Paid......$1.4720 $1.6800 $1.8800
West Paid**..$1.4170 $1.6690 $1.9200
*thru 12/20/05
**Ex-hedging gains
Jim
U.S. crude oil imports averaged nearly 9.9 million barrels per day last week, down 570,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged over 10.1 million barrels per day, a decrease of 25,000 barrels per day from the comparable four weeks last year.
U.S. commercial crude oil inventories (excluding those in the SPR) rose by 1.3 million barrels from the previous week. At 322.5 million barrels, U.S. crude oil inventories are well above the upper end of the average range for this time of year. [Hence the drop in imports - domestically, we're almost swimming in crude. Jim]
U.S. crude oil refinery inputs averaged over 14.9 million barrels per day during the week ending December 16, down 298,000 barrels per day from the previous week's average. Refineries operated at 88.0 percent of their operable capacity last week. [Still suffering from refining capacity shortage due to hurricane damage - the easiest repairs have been accomplished and the last 5-8% of capacity to bring it up to the "normal" 95% or so is going to take a while to get back on line. Jim]
Total products supplied over the last four-week period has averaged nearly 21.2 million barrels per day, or 0.7 percent more than averaged over the same period last year. Jet fuel demand is down 1.6 percent over the last four weeks compared to the same four-week period last year.
Spot prices for jet fuel..12/16....12/09....12/02....11/18....11/11....11/04....10/28....10/21....10/14....10/07......9/30.....9/23......9/16.....9/09
New York Harbor.......$1.7435 $1.7430 $1.7100 $1.6945 $1.7400 $1.8135 $2.0050 $2.0275 $2.1150 $2.3050 $2.4200 $2.0700 $1.9450 $2.0100
Gulf Coast...............$1.7198 $1.7218 $1.6800 $1.6470 $1.6900 $1.7655 $1.9640 $1.9325 $2.3050 $2.8400 $2.6450 $2.1750 $1.9050 $1.9488
Los Angeles.............$1.7750 $1.6350 $1.7150 $1.7000 $1.7550 $1.8300 $1.9150 $1.8850 $2.0350 $2.0850 $2.3050 $2.0000 $1.8850 $1.9500
Spot prices for crude....12/02..11/18...11/11..11/04...10/28..10/21..10/14...10/07....9/30....9/23....9/16....9/09
WTI Cushing..............$58.01 $59.41 $59.31 $56.30 $57.45 $60.60 $61.30 $61.05 $62.61 $61.81 $66.21 $64.67 $62.91 $64.21
Brent.......................$58.11 $57.18 $54.91 $52.84 $54.30 $60.48 $59.47 $56.94 $58.45 $57.29 $61.70 $62.17 $60.48 $62.62
Current crude prices:
Bloomberg reports WTI closed @ $58.31 on 12/21/05.
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....Oct05...Nov05...Dec05
NY Harbor......$1.4861 $1.5833 $1.9253 $2.1438 $1.7410 $1.7564
Gulf Coast.....$1.4400 $1.5649 $1.9263 $2.3981 $1.6981 $1.7281
Los Angeles...$1.5228 $1.7008 $1.9585 $2.0166 $1.7365 $1.7275
East Paid......$1.4720 $1.6800 $1.8800
West Paid**..$1.4170 $1.6690 $1.9200
*thru 12/20/05
**Ex-hedging gains
Jim
