were unfounded, as the world soon plunged into recession and demand for oil dropped. As the euro rose, the dollar fell. EIA expects these households to spend more on heating this winter compared to last winter because of stronger heating demand and higher propane prices. Higher prices encourage imports to be shipped to the region. The price of a barrel of WTI oil is 6/b lower than Brent prices. EIA forecasts that the expectation of inventory builds in 20 will contribute to Brent crude oil prices declining from current levels (69.08/b on January 9) to an average of 60/b during the first quarter of 2018. Oil prices were almost triple the 13-year low.55/b on January 20, 2016. On May 8, the United States pulled out of the. Distillate inventories have fallen heading into this winter because of recent refinery binary trading in usa outages along the.S.
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The mix of energy sources used to generate electricity this winter is slightly different from last year. The lower prices caused 2016.S. The West Coast price rose nearly four cents.01 per gallon, the East Coast price rose one cent.50 per gallon, and the Gulf Coast and Rocky Mountain prices each rose less than one cent, remaining.24 per gallon and.44 per. Propane stocks decreased.3 million barrels last week.7 million barrels as of January 5, 2018,.2 million barrels (14.2) lower than the five-year average inventory level for this same time of year. In both 20, EIA expects total global production to be slightly greater than global consumption, with.S.
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