EUR/USD
1.14183
-0.197%
Gold
4143.02
-0.525%
Oil
70.320
2.548%
USD/JPY
161.908
-0.106%
GBP/USD
1.33670
-0.169%
GBP/JPY
216.429
-0.272%
Real-time News
On July 8th, the U.S. Energy Information Administration (EIA) released its Short-Term Energy Outlook report, which stated that it expects U.S. power sector natural gas consumption to reach a record high next year, driven primarily by rising overall electricity demand, expansion of natural gas generating capacity, and relatively low natural gas prices. The report forecasts a slight increase in natural gas demand across the economy this year, followed by a 3% increase in 2027. It predicts that wholesale electricity prices this summer will be lower than last summer, primarily due to lower natural gas costs delivered to power plants—however, summer heat waves could still cause prices to surge. Nationally, wholesale electricity prices are expected to average around $45 per megawatt-hour, with the largest price drops expected in western hub regions.On July 8th, the U.S. Energy Information Administration (EIA) released its Short-Term Energy Outlook report, stating that it forecasts gasoline prices to average $3.80 per gallon in the third quarter of 2026, down from over $4.20 per gallon in the second quarter. It expects retail prices to fall to around $3.40 per gallon in the fourth quarter of 2026. The EIA forecasts that the average annual retail gasoline price will fall below $3.10 per gallon in 2027.On July 8th, the U.S. Energy Information Administration (EIA) released its Short-Term Energy Outlook report, stating that increased oil production and the recovery of trade flows will lead to lower-than-expected crude oil inventory depletion in the coming months. We project a 2.2 million barrel per day (bpd) decrease in global oil inventories in the third quarter of 2026, compared to our June forecast of over 7 million bpd, and a 5 million bpd decrease in the second quarter of 2026. Next year, we expect rising oil production to return the market to a pre-conflict oversupply state.On July 8th, the U.S. Energy Information Administration (EIA) released its Short-Term Energy Outlook report, noting that on June 18th, the U.S. and Iran signed a memorandum of understanding to end the conflict and open the Strait of Hormuz. With the signing of the agreement and increased traffic through the strait, we have raised our forecast for global oil production for the remainder of this year. We now expect most crude oil production to recover to near pre-conflict levels by the end of this year, and most of the shut-down crude oil production to come online in the first quarter of 2027.The EIA Short-Term Energy Outlook report projects that U.S. crude oil production will average 13.84 million barrels per day in July, down from 13.89 million barrels per day in June; average production in August is expected to further decline to 13.81 million barrels per day.
