Wnergy Situation Analyais Report
Compliments of US Dept of Energy
Energy Situation Analysis Report
Last Updated: August 15, 2002
Next Update: August 20, 2002
Energy Situation Analysis Report Archive (PDF)
Latest Oil Market Developments
West Texas Intermediate (WTI) September crude oil futures on the New York Mercantile Exchange (NYMEX) rose $0.25 per barrel yesterday (08/14/02) to settle at $28.15 per barrel on EIA weekly data showing a decline in U.S. crude oil inventories. The data for the week ending August 9 showed U.S. crude oil inventories (excluding the Strategic Petroleum Reserve) at their lowest level since March 2001. more...
Latest U.S. Weekly EIA Petroleum Information
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) fell by 7.2 million barrels, and are now 11.6 million barrels lower than a year ago. The U.S. average retail price for regular gasoline fell 0.2 cent per gallon last week, ending at 139.3 cents per gallon as of August 12. This price is 0.1 cent per gallon higher than last year, marking the fourth week in a row this summer that 2002 prices were higher than 2001 prices. more...
World Oil Market Highlights
According to third quarter 2002 estimates, the world holds about 5.6 million barrels per day of excess oil production capacity that could be brought online within 30 days, over 90% of which lies in OPEC countries. This figure does not include Iraqi spare capacity. more...
Latest U.S. Weekly Natural Gas Information
Spot natural gas prices on Wednesday, August 14 were higher than on Monday (August 12) as high temperatures prevailed once again, particularly in the Northeast and Southwest. Near-across the board increases on Tuesday ranging up to 25 cents per MMBtu gave way to mixed results yesterday, as the number of locations with increases was about matched by locations with either decreases or no change. At the Henry Hub, after gaining 12 cents per MMBtu on Tuesday, the average spot price stayed flat on Wednesday at $3.03 per MMBtu. more...
Latest U.S. Coal Information
The spot coal prices tracked by EIA have been mostly firm or rising since the week ending June 22. Central Appalachian coal prices have risen markedly, Powder River Basin prices have trended upward, and Northern Appalachian and Illinois Basin prices have held firm. Compared to peak prices in summer 2001, Central and Northern Appalachian coal prices are down by about $17.00 and $9.00 per short ton, respectively. more...
Latest U.S. Electricity Information
Wholesale electricity spot prices were mixed yesterday in the Western U.S. with prices increasing in the Northwest, remaining relatively stable in California, and decreasing in the Southwest. New England prices increased 17% to $141.67 per megawatthour on August 14 as hot weather has remained in the region. Prices at the Mid-Columbia trading zone, in the Northwest, have increased for five consecutive weekdays due to warmer weather and a decrease in hydroelectricity supply, rising 60% from last week's low to $22.56 per megawatthour on August 14. more...
Energy Prices* Petroleum Futures
8/14/02 8/13/02 Change
WTI ($/Bbl) 28.15 27.90 +0.25
Gasoline (c/gallon) 77.64 77.38 +0.26
Heating Oil (c/gallon) 70.14 69.42 +0.72
Natural Gas ($/MMBtu)
Henry Hub 3.03 3.03 0.00
California 2.74 2.76 -0.02
New York City 4.38 3.90 +0.48
Electricity ($/Megawatthour)
COB 28.00 27.50 +0.50
PJM West 33.85 35.53 -1.68
NEPOOL 141.67 121.25 +20.42
Average 53.90 55.28 -1.38
*Definitions
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