Daily Energy Report

Crude Oil Futures for January 2021 settled down $0.16 @ $45.60/bbl trading in a $0.79 range, including the overnight. RBOB settled up 0.01/cpg and Heating Oil settled up 0.75/cpg.

The United States imported more crude oil and petroleum products than it exported in May and June of this year, briefly reversing the country’s 15 year-long trend toward becoming a net petroleum exporter. After being a net petroleum exporter for seven consecutive months from October 2019 through April 2020, the United States became a net importer and domestic net petroleum imports averaged 939,000 barrels per day in May and 675,000/bpd in June. On an annual basis, U.S. net imports of petroleum have fallen from a high of 12.5 million/bpd in 2005 to 0.7 million/bpd in 2019.

Natural Gas Futures for January 2021 settled down $0.007 @ $2.399/mmbtu trading in a .112 cent range including the overnight session.

Natural gas-fired generation has generally increased in most U.S. regions since 2015, according to data from the Energy Information Administration’s Power Plant Operations Report. Annual electricity generation from natural gas power plants in the United States increased by +31.0% in the Northeast region, by +20.0% in the Central region, and by +17.0% in the South region between 2015 and 2019. In the West region of the continental United States, electric power generation from natural gas power plants remained relatively flat during the same period.