Market Outlook
World Oil Outlook: Consumption Projected To Grow By 1.6 Million Barrels Per Day In 2010
Crude Oil and Liquid Fuels Overview. EIA's assessment of global
economic growth, global oil demand, and world oil prices are all
slightly higher than in last month's Outlook.
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Natural Gas Outlook: Late-Season Chill Increases Demand
Natural gas spot prices increased this report week (Wednesday, April 21 – Wednesday, April, 28), as a late-season chill temporarily increased demand. During the report week, the Henry Hub spot price increased by $0.23 to $4.19 per million Btu (MMBtu).
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Small Wells Grow In Importance
Headlines often focus on big discoveries or major new sources for crude
oil. This can obscure the fact that as much as 20 percent of the
Nation’s crude oil production comes from marginal-volume “stripper”
wells.
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U.S. Average Gasoline Price Climbs A Nickel
The U.S. average price for regular gasoline increased five cents to
$2.90 per gallon. The price was $0.82 above last year at this time.
Although prices rose in all regions of the country, the size of the
increase varied considerably, ranging from about a penny to more than
seven cents.
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Natural Gas Outlook: Demand Increases With Late-Season Chill
At the New York Mercantile Exchange (NYMEX), the price of the near-month futures contract bounced above $4 per MMBtu in the final days of trading before its monthly expiration.
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Refinery Outage Outlook For Spring 2010
Last month, EIA published its semiannual report on the possible impacts
of refinery outages on gasoline and diesel fuel markets for March
through June 2010.
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U.S. Average Gasoline Price Drops A Penny
At the national level, the price for regular gasoline dipped a penny to
$2.85 per gallon but was $0.80 above last year. The East Coast average
inched up a cent to $2.83 per gallon, while the Gulf Coast price fell
two cents to $2.73 per gallon.
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Natural Gas Outlook: May Futures Fall 6 Percent
At the New York Mercantile Exchange (NYMEX), the value of the futures contract for May 2010 delivery at the Henry Hub fell about 6 percent, from $4.199 per MMBtu on April 14 to $3.955 per MMBtu on April 21.
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U.S. Average Retail Gasoline Price Remains Steady
At $2.86 per gallon, the U.S. average price for regular gasoline was
virtually unchanged from last week and was $0.80 above last year at
this time. Price changes on a regional basis were mixed, with the East
Coast average falling slightly to $2.82 per gallon.
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One Means Of Biodiesel Production: The FAME Process
Biodiesel is a renewable fuel derived from animal and vegetable oils,
including waste oils, used in diesel engines. The idea of using
vegetable-oil-derived fuels to power diesel engines is not new – in
fact, it can be traced back to 1897, the year Rudolf Diesel invented
the engine that bears his name.
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Natural Gas Outlook: Futures For May Delivery Up 5 Percent During The Week
At the New York Mercantile Exchange (NYMEX), the futures contract for May delivery at the Henry Hub ended trading yesterday at $4.199 per MMBtu, increasing by 18 cents or about 5 percent during the report week.
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