What is Macro Pulse?

Macro Pulse highlights recent activity and events expected to affect the U.S. economy over the next 24 months. While the review is of the entire U.S. economy its particular focus is on developments affecting the Forest Products industry. Everyone with a stake in any level of the sector can benefit from
Macro Pulse's timely yet in-depth coverage.


Wednesday, January 1, 2014

December 2013 Monthly Average Crude Oil Price

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The monthly average U.S.-dollar price of West Texas Intermediate (WTI) crude oil gained $3.68 (3.9 percent) in December, rising to $97.47 per barrel. That price increase coincided with the lagged impacts of an increase in consumption of 157,000 barrels per day (BPD) to 19.3 million BPD in October and a noticeable decrease in crude stocks. The monthly average price spread between Brent crude (the predominant grade used in Europe) and WTI narrowed by $0.84 in December, to $13.32 per barrel.
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ASPO-USA attributed the late-December spot and futures price increases to production outages in Libya and South Sudan; a refinery strike in France that has now been settled; and increases in U.S. refinery output -- much of which is being exported to make up for shortages in Europe. 
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The foregoing comments represent the general economic views and analysis of Delphi Advisors, and are provided solely for the purpose of information, instruction and discourse. They do not constitute a solicitation or recommendation regarding any investment.
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