The Short-Term Energy Outlook (STEO) released on June 9 forecasts the average price for North Sea Brent crude oil in 2016 at $67 per barrel (b), $3/b lower than projected in the May STEO. The 2015 Brent forecast remained unchanged at $61/b (Figure 1). Expectations of looser global balances in the latter portion of the forecast period drove the adjustment to the price outlook. WTI prices are expected to average $5/b below Brent in both 2015 and 2016. ... Original link

Petroleum product exports averaged 4.1 million barrels per day (b/d) in the first four months of the year, the latest monthly data available. This was an increase of 0.5 million b/d over the same time last year. Product imports are also higher than last year, but to a lesser extent, leading to an increase in net petroleum product exports (Figure 1). Import and export patterns vary by region (Figure 2), with most exports leaving from the Gulf Coast (PADD 3), and imports coming to the East Coast (PADD 1). Record high refinery runs and increased global demand for petroleum products from the United States continue to push net exports higher. ... Original link

West Coast spot prices for conventional gasoline increased sharply last week, while falling slightly on the Gulf Coast and remaining flat on the East Coast. The Los Angeles, California, spot price for conventional gasoline increased nearly 90 cents per gallon (cents/gal) between July 6 and July 13, while San Francisco, California, and Portland, Oregon prices increased 24 cents/gal and 5 cents/gal, respectively (Figure 1). This most recent price rise results from a delay in receipts of waterborne imports of gasoline blending components and a decrease in total motor gasoline inventories within an already constrained supply chain. ... Original link

Exports of propane from the United States have been increasing rapidly since 2011. In April 2015 (the latest available monthly data), propane exports averaged 636,000 barrels per day (b/d), 222,000 b/d above April 2014 levels (Figure 1). ... Original link