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Short-Term Energy Outlook

Release Date: September 10, 2019  |  Next Release Date: October 8, 2019  |  Full Report    |   Text Only   |   All Tables   |   All Figures

Prices

  • Brent crude oil spot prices averaged $59 per barrel (b) in August, down $5/b from July and $13/b lower than the average from August of last year. EIA forecasts Brent spot prices will average $60/b in the fourth quarter of 2019 and $62/b in 2020. EIA forecasts that West Texas Intermediate (WTI) prices will average $5.50/b less than Brent prices in 2020.
  • The Henry Hub natural gas spot price averaged $2.22 per million British thermal units (MMBtu) in August, down 15 cents/MMBtu from July. This summer, prices have declined amid rising natural gas production, despite high levels of both natural gas exports and consumption in the electricity generation sector. Based on recent price movements and EIA’s assessment that natural gas production will be sufficient to meet expected demand and export levels at a lower price than previously forecasted, EIA lowered its Henry Hub spot price forecast for 2020 to an average of $2.55/MMBtu, 20 cents/MMBtu lower than the August forecast.

West Texas Intermediate (WTI) crude oil price

U.S. gasoline and crude oil prices

U.S. diesel fuel and crude oil prices

U.S. natural gas prices

Henry Hub natural gas price

U.S. residential electricity price

Prices
  2017201820192020
aWest Texas Intermediate.
bAverage regular pump price.
cOn-highway retail.
dU.S. Residential average.
eElectric power generation fuel cost.
WTI Crude Oila
(dollars per barrel)
50.7965.0656.3156.50
Brent Crude Oil
(dollars per barrel)
54.1571.1963.3962.00
Gasolineb
(dollars testper gallon)
2.422.732.562.63
Dieselc
(dollars per gallon)
2.653.183.053.16
Heating Oild
(dollars per gallon)
2.513.012.953.00
Natural Gasd
(dollars per thousand cubic feet)
10.8610.4910.5710.55
Electricityd
(cents per kilowatthour)
12.8912.8913.0413.13
Coale
(dollars per million Btu)
2.062.062.092.11

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Related Tables
Table SF01. U.S. Motor Gasoline Summer Outlook PDF
Table SF02. Average Summer Residential Electricity Usage, Prices and Expenditures PDF
Table 1. U.S. Energy Markets Summary PDF
Table 2. Energy Prices PDF
Table 4c. U.S. Regional Motor Gasoline Prices and Inventories PDF
Table 5b. U.S. Regional Natural Gas Prices PDF
Table 7c. U.S. Regional Retail Electricity Prices PDF
Related Figures
West Texas Intermediate (WTI) crude oil price XLSX PNG
U.S. gasoline and crude oil prices XLSX PNG
U.S. diesel fuel and crude oil prices XLSX PNG
Henry Hub natural gas price XLSX PNG
U.S. natural gas prices XLSX PNG
U.S. residential electricity price XLSX PNG
U.S. census regions and census divisions XLSX PNG
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