US Daily Data Recap: Energy data trends, weather another risk

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US Daily Data Recap: Energy data trends, weather another risk

Global Research

22 July 2026ab

US Daily Data Recap Economics

AmericasEnergy data trends, weather another risk

Amanda Wilcox

Economist

We recap high-frequency energy data inside. The Brent crude oil spot price has amanda.wilcox@ubs.com

+1-212-713 3899

rebounded from ~$71 per barrel at the start of July to $94 per barrel as of this writing.

End-2026 Brent futures have risen from ~$72 per barrel in late June to $85 per barrel as Jonathan Pingle

of this writing, signaling that markets expect oil prices to remain elevated. Retail Economist

gasoline prices have backed up again, too. The national average gasoline price has jonathan.pingle@ubs.com

+1-212-713 2225

climbed $0.27 from its early-July low to $4.06 per gallon as of Tuesday, although prices

remain below the May high of $4.56. Weather may add an additional wrinkle too, if it Alan Detmeister

substantially interrupts US Gulf oil production. Chevron has shut production at its Economist

Petronius Gulf of Mexico platform and evacuated personnel ahead of Tropical Storm alan.detmeister@ubs.com

+1-212-713 1222

Bertha, while also removing nonessential workers from other offshore facilities (link

here). Meanwhile, US crude oil inventories continue to decline while production moves Abigail Watt

sideways. The active oil rig count extended its recent gains in the week ending July 17, Economist

abigail.watt@ubs.comsuggesting some supply response to tighter market conditions.

+1-212-882 6929

Jalen Nichols

Mortgage applications for a home purchase rose 5.5% in the week ending July 17,

returning to the recent range after dipping lower the prior week. The contract rate for a jalen.nichols@ubs.com