News

In the final trading day of 2022, the spot price of Brent crude oil, a global benchmark priced in Northwest Europe, closed at $85 per barrel (b), $7 higher than the price on January 3, 2022 ($78/b). The Brent price rose significantly in the first half of 2022 but generally declined in the second...

After increasing 68% from January through June, the energy component of the S&P Goldman Sachs Commodity Index (GSCI) ended the year 10% higher than the first trading day of 2022. Global events—notably Russia’s full-scale invasion of Ukraine, which has been ongoing since last February—have...

Rates for petroleum product tankers that carry low-sulfur petroleum products, including refined petroleum products such as motor gasoline, diesel fuel, jet fuel, and naphtha, reached multiyear highs this summer. Rates for these tankers, known as clean tankers, remained elevated through November...

Average allowance prices for CO2 emissions increased by over 40% in four of the world’s five largest carbon emissions trading systems between January 2021 and January 2022, according to data from the International Carbon Action Partnership. Read More...

In the industrial sector, natural gas consumption in the United States increased by 1.9% in 2021. In our November Short-Term Energy Outlook (STEO), we forecast that it will increase by 2.4% in 2022. We expect U.S. industrial consumption will reach record highs in 2022, which will reverse a multiyear...

U.S. dry natural gas production has increased during 2022, averaging more than 100 billion cubic feet per day (Bcf/d) in October and November and exceeding pre-pandemic monthly production records from 2019. We forecast that U.S. production of dry natural gas will average about 100.0 Bcf/d from...

Developers and power plant owners plan to significantly increase utility-scale battery storage capacity in the United States over the next three years, reaching 30.0 gigawatts (GW) by the end of 2025, based on our latest Preliminary Monthly Electric Generator Inventory. Read More...

In 15 U.S. states last year, coal was used to generate electricity more than any other energy source. Twenty years earlier, in 2001, coal was the largest source of electricity generation in 32 states. The United States has shifted away from coal-fired generation since it peaked in 2007 and toward...

Our Hourly Electric Grid Monitor provides up-to-the-hour information showing electricity demand across the U.S. electric grid. Large-scale events that affect normal routines, ranging from expected events such as major holidays to unexpected situations such as the COVID-19 pandemic, can change the...

Average jet fuel consumption in the United States so far in 2022 has been consistently below 2019, although airline passenger counts in the United States have nearly returned to 2019 levels in recent months, based on Transportation Security Administration (TSA) reports. So far in 2022, jet fuel...