(Mon, 23 Jan 2017) In its January 2017 <em>Short-Term Energy Outlook</em> (STEO), EIA expects the Henry Hub natural gas spot price to average $3.55 per million British thermal units (MMBtu) in 2017 and $3.73/MMBtu in 2018, both higher than the 2016 average of $2.51/MMBtu. Higher prices in 2017 and 2018 reflect natural gas consumption and exports exceeding supply and imports, leading to lower average inventory levels.
We consider commodity prices during President Barack Obama's tenure and will track how they change during President Donald Trump's time in office.
Over the past two years, the Middle East has grown into a recognized demand center because of increasing imports from both traditional buyers and new market entrants.
(Thu, 19 Jan 2017) U.S. carbon dioxide (CO2) emissions from the transportation sector reached 1,893 million metric tons (MMmt) from October 2015 through September 2016, exceeding electric power sector CO2 emissions of 1,803 MMmt over the same time period.
(Thu, 19 Jan 2017) South Korea, which lacks domestic energy reserves, ranks among the worldâs top five importers of liquefied natural gas, coal, and petroleum and other liquids. Despite its lack of resources, South Korea has some of the most advanced oil refineries in the world, and its companies have investments in overseas oil and natural gas assets.
Any change in the US' corporate tax system that has an enormous shift in the tax treatment of imports and exports is going to have the potential to impact oil flows, and by extension, oil markets.
(Wed, 18 Jan 2017) Natural gas is Mexicoâs largest source of electricity generation, accounting for 54% of the countryâs generation in 2015, up from 34% in 2005.
(Tue, 17 Jan 2017) U.S. production of ethane is expected to increase from an average of 1.25 million barrels per day (b/d) in 2016 to 1.7 million b/d in 2018 according to EIAâs latest <em>Short-Term Energy Outlook</em> (STEO). Increased ethane production is expected to be consumed in the petrochemical industry domestically as well as exported to other countries.
(Fri, 13 Jan 2017) Natural gas spot prices in 2016 averaged $2.49 per million British thermal units (MMBtu) at the national benchmark Henry Hub, the lowest annual average price since 1999. The monthly average price fell below $2.00/MMBtu from February through May, but later increased, ending the year at an average of $3.58/MMBtu in December.
(Thu, 12 Jan 2017) The U.S. Energy Information Administrationâs January <em>Short-Term Energy Outlook</em> (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) crude oil prices to average $53 per barrel (b) and $52/b, respectively, in 2017, close to their levels during the last three weeks of 2016. These prices are expected to rise to $56/b and $55/b, respectively, in 2018.
