Brent Oil
Brent oil prices increased by 0.77% or US$0.57 relative to the prior week. Oil traded on December 16, 2021, at US$74.99 per barrel relative to US$74.42 on December 2, 2021. Brent oil opened 2021 year at US$54.52 per barrel.
Petrojam prices
87 Octane prices increased this week by 1.92% (JMD$3.06). Additionally, 90 Octane increased by 1.86% (JMD$3.060) this week. 87 Octane and 90 Octane opened the year 2021 at J$112.05 and J$114.89 respectively and now trades at J$162.25 and J$167.70 per litre respectively.
Figure 1: Petrojam, U.S. Gulf Coast Conventional Gasoline Regular, and Brent Crude Oil Price History
This Week in Petroleum
U.S. average regular gasoline and diesel prices decrease
On December 13, 2021, it was noted that, “the U.S. average regular gasoline retail price decreased almost 3 cents to $3.32 per gallon on December 13, $1.16 higher than a year ago.” The West Coast price decreased more than 2 cents to $4.16 per gallon, the East Coast price reduced by more than 2 cents, to $3.28 per gallon, and the Gulf Coast price fell more than 5 cents to $2.94 per gallon. The Midwest price fell more than 2 cents to $3.08 per gallon, and the Rocky Mountain price fell nearly 4 cents $3.43 per gallon.
The average diesel fuel price fell nearly 3 cents to $3.65 per gallon on December 13, $1.09 higher than a year ago. The East Coast price fell almost 3 cents to $3.63 per gallon, the Rocky Mountain price fell more than 2 cents to $3.76 per gallon, West Coast price decreased nearly 2 cents to $4.40 per gallon, the Midwest price fell more than 2 cents to $3.51 per gallon, and the Gulf Coast price fell 3 cents to $3.37 per gallon.
Inventories for propane/propylene decline
There was a decrease in U.S. propane/propylene stocks last week by 2.4 million barrels to 70.9 million barrels as of December 10, 2021, 8.1 million barrels (10.2%) less than the five-year (2016-2020) average inventory levels for this same time of year.
Additionally, Gulf Coast inventories fell 1.3 million barrels. Rocky Mountain and West Coast inventories decreased 0.1 million barrels. East Coast inventories fell 0.5 million barrels. Midwest inventories fell 0.4 million barrels.
For additional information click the link below:
https://www.eia.gov/petroleum/wekly/
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.