November 21, 2019
Brent oil prices increased by 1.91% or US$1.19, as prices decreased this week relative to the prior week. Oil traded on November 21, 2019 at a price of US$63.47 per barrel relative to US$62.28 on November 21, 2019. Brent oil began the year at US$55.95 per barrel.
87 Octane prices decreased this week by 0.12% (JMD$0.15). Additionally, 90 Octane decreased by 0.12% or (JMD$0.15) this week. 87 Octane and 90 Octane opened the year at J$116.75 and J$119.59 respectively and now trades at J$129.41 and J$132.25 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 declined and diesel prices rose slightly
On November 20, 2019, it was noted that, “The U.S. average regular gasoline retail price fell over 2 cent from the last week to $2.59 per gallon on November 18, almost 2 cents lower the same time last year. The West Coast price dropped nearly 5 cents to $3.54 per gallon, and the Gulf Coast price declined more than to 4 cents to $2.22 per gallon. In addition, the East Coast went down more than 2 cents to $2.45 per gallon, and the Midwest price price inched down less than 1 cents to $2.44 per gallon, while Rocky Mountain prices rose by nearly 2 cent to $2.84 per gallon.”
“The U.S. average diesel fuel price went up by less than 1 cent remaining at $3.07 per gallon on November 18, 21 cents lower than the same time last year. The Rocky Mountain price rose almost 3 cents to $3.23 per gallon, the East Coast price increased by less than 1 cent to $3.05 per gallon, the Gulf Coast and West Coast prices each fell by almost 1 cent, remaining at $2.79 per gallon and $3.76 per gallon, respectively. Whereas, the Midwest price decreased below 1 cent, remaining at $2.97 per gallon.”
Inventories for Propane/propylene decreased
There was a decrease in U.S. propane/propylene stocks last week by 3.4 million barrels to 94.2 million barrels as of November 15, 2019. This was 5.8 million barrels (6.6%) higher than the five-year (2014-2018) average inventory level year over year. Additionally, Gulf Coast and Midwest inventories fell by 2.5 million barrels and 1.5 million barrels, respectively. East Coast inventories rose by 0.5 million barrels, and Rocky Mountain/West Coast inventories was little changed. Propylene non-fuel-use inventories represented 5.4% of total propane/propylene inventories.
For additional information click the link below:
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.