According to Baker Hughes data from January 22, 2016, the U.S rig count for the week was 637 rigs exploring for or developing oil or natural gas. This is a decrease of 13 rigs when compared to last week, with oil rigs down 5 to 510 rigs, gas rigs down 8 to 127 rigs, and […]
Figure 1 shows historical gas and oil prices since January 2000. The daily spot price of West Texas Intermediate (WTI) closed at $31.42 on January 11th, down from $36.31 on December 14th, according to the latest daily figure available from the Energy Information Administration (EIA). There have been reports in the press that oil broke […]
According to Baker Hughes data from January 8, 2016, the U.S rig count for the week was 664 rigs exploring for or developing oil or natural gas. This is a decrease of 34 rigs compared to last week, with oil rigs down 20 to 516 rigs, gas rigs down 14 to 148 rigs, and miscellaneous […]
Last year was a major year for labor contracts that affected the steel industry. After months of slowdowns and contentious negotiations on the West Coast in 2014, the PMA/ILWU finally ratified a contract in May of 2015. The labor dispute caused delay of steel shipments and other products, congestion on the docks, and shifted some […]
Figure 1 shows historical gas and oil prices since January 2000. The daily spot price of West Texas Intermediate closed at $36.31 on December 14th, down from $45.91 on October 17th, according to the latest daily figure available from the Energy Information Administration (EIA). Brent closed at $36.51 on December 14th. WTI was down from […]
According to Baker Hughes data from December 11, 2015, the U.S rig count for the week was 709 rigs exploring for or developing oil or natural gas. This is a decrease of 28 rigs compared to last week, with oil rigs down 21 to 524 rigs, gas rigs down 7 to 185 rigs, and miscellaneous […]
According to Baker Hughes data from December 4, 2015, the U.S rig count for the week was 737 rigs exploring for or developing oil or natural gas. This is a decrease of 7 rigs compared to last week, with oil rigs down 10 to 545 rigs, gas rigs up 3 to 192 rigs, and miscellaneous […]
SMU contributing writer, Peter Wright, evaluates the oil and gas industry on a monthly basis for Steel Market Update. Energy markets are large users of hot rolled as well as pipe and tube steels. The energy market’s slowdown is one of the key reasons why the domestic steel industry has slowed this year. Figure 1 […]
According to Baker Hughes data from November 13, 2015, the U.S rig count for the week was 767 rigs exploring for or developing oil or natural gas. This is a decrease of 4 rigs compared to last week, with oil rigs up 2 to 574 rigs, gas rigs down 6 to 193 rigs, and miscellaneous […]
According to Baker Hughes data from November 6, 2015, the U.S rig count for the week was 771 rigs exploring for or developing oil or natural gas. This is a decrease of 4 rigs compared to last week, with oil rigs down 6 to 572 rigs, gas rigs up 2 to 199 rigs, and miscellaneous […]
Figure 1 shows historical gas and oil prices since January 2000. The daily spot price of West Texas Intermediate (WTI) closed at $45.91 on October 17th, according to the latest daily figure available from the Energy Information Administration (EIA). Brent closed at $47.51 on the same day. WTI was down from $46.67 in 30 days […]
According to Baker Hughes data from October 23, 2015, the U.S rig count for the week was 787 rigs exploring for or developing oil or natural gas. This is unchanged overall compared to last week, with oil rigs down 1 to 594 rigs, gas rigs up 1 to 193 rigs, and miscellaneous rigs unchanged at […]
According to Baker Hughes data from October 16, 2015, the U.S rig count for the week was 787 rigs exploring for or developing oil or natural gas. This is a decrease of 8 rigs when compared to last week, with oil rigs down 10 to 595 rigs, gas rigs up 3 to 192 rigs, and […]
According to Baker Hughes data from October 9, 2015, the U.S rig count for the week was 795 rigs exploring for or developing oil or natural gas. This is a decrease of 14 rigs when compared to last week, with oil rigs down 9 to 605 rigs, gas rigs down 6 to 189 rigs, and […]
According to Baker Hughes data from October 2, 2015, the U.S rig count for the week was 809 rigs exploring for or developing oil or natural gas. This is a decrease of 29 rigs when compared to last week, with oil rigs down 26 to 614 rigs, gas rigs down 2 to 195 rigs, and […]
According to Baker Hughes data from September 25, 2015, the U.S rig count for the week was 838 rigs exploring for or developing oil or natural gas. This is a decrease of 4 rigs when compared to last week, with oil rigs down 4 to 640 rigs, gas rigs down 1 to 197 rigs, and […]
According to Baker Hughes data from September 18, 2015, the U.S rig count for the week was 842 rigs exploring for or developing oil or natural gas. This is a decrease of 6 rigs when compared to last week, with oil rigs down 8 to 644 rigs, gas rigs up 2 to 198 rigs, and […]
Figure 1 shows historical gas and oil prices since January 2000. The daily spot price of West Texas Intermediate closed at $45.92 on September 8th after recovering to $59.53 on June 15th. In the last 10 days WTI has declined by $3.28 according to the latest daily figure available from the Energy Information Administration (EIA). […]
According to Baker Hughes data from August 28, 2015, the U.S rig count for the week was 877 rigs exploring for or developing oil or natural gas. This is a decrease of 8 rigs when compared to last week, with oil rigs up 1 to 675 rigs, gas rigs down 9 to 202 rigs, and […]
According to Baker Hughes data from August 21, 2015, the U.S rig count for the week was 885 rigs exploring for or developing oil or natural gas. This is an increase of 1 rig when compared to last week, with oil rigs up 2 to 674 rigs, gas rigs unchanged at 211 rigs, and miscellaneous […]
Figure 1 shows historical gas and oil prices since January 2000. The daily spot price of West Texas Intermediate closed at $44.94 on August 10th after recovering to $59.53 on June 15th. In the last two weeks WTI has declined by $2.23 according to the latest daily figure available from the Energy Information Administration, […]
According to Baker Hughes data from August 7, 2015, the U.S rig count for the week was 884 rigs exploring for or developing oil or natural gas. This is an increase of 10 rigs when compared to last week, with oil rigs up 6 to 670 rigs, gas rigs up 4 to 213 rigs, and […]
According to Baker Hughes data from July 31, 2015, the U.S rig count for the week was 874 rigs exploring for or developing oil or natural gas. This is a decrease of 2 rigs when compared to last week, with oil rigs up 5 to 664 rigs, gas rigs down 7 to 209 rigs, and […]
US Steel is expecting higher steel prices and shipments in the second half of 2015 helped by the recent trade case on cold rolled steel and an upcoming trade case on hot rolled steel. The company reported a net loss of $261 million for second quarter which included a write down of $136 million on […]
According to Baker Hughes data from July 24, 2015, the U.S rig count for the week was 876 rigs exploring for or developing oil or natural gas. This is up 19 rigs when compared to last week, with oil rigs up 21 to 659 rigs, gas rigs down 2 to 216 rigs, and miscellaneous rigs […]
Figure 1 shows historical gas and oil prices since January 2000. The daily spot price of West Texas Intermediate fell below $100/barrel in August and by January 23rd was down to $44.80. By June 15th, the price of WTI had recovered to $59.53. In the last 30 days through July 13th WTI has declined again […]
According to Baker Hughes data from July 17, 2015, the U.S rig count for the week was 857 rigs exploring for or developing oil or natural gas. This is down 6 rigs when compared to last week, with oil rigs down 7 to 638 rigs, gas rigs up 1 to 218 rigs, and miscellaneous rigs […]
According to Baker Hughes data from July 10, 2015, the U.S rig count for the week was 863 rigs exploring for or developing oil or natural gas. This is up 1 rig when compared to last week, with oil rigs up 5 to 645 rigs, gas rigs down 2 to 217 rigs, and miscellaneous rigs […]
June ended the same way it started with our SMU Price Momentum Indicator pointing toward higher flat rolled steel prices. This is now the second month in a row where our Momentum Indicator has been pointing up. Our Future Steel Buyers Sentiment Index averaged +61.5 for the month of June. However, the last report we […]
According to Baker Hughes data from June 26, 2015, the U.S rig count for the week was 859 rigs exploring for or developing oil or natural gas. This is up 2 rigs when compared to last week, with oil rigs down 3 to 628 rigs, gas rigs up 5 to 228 rigs, and miscellaneous rigs […]