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 […]
Figure 1 shows historical gas and oil prices since January 2000. The daily spot price of West Texas Intermediate fell below $100 per barrel in August and by January 23rd was down to $44.80. By June 15th, the latest daily figure available from the Energy Information Administration (EIA) the price of WTI had recovered to […]
According to Baker Hughes data from June 12, 2015, the U.S rig count for the week was 859 rigs exploring for or developing oil or natural gas. The last time the active U.S. count was this low was back on January 17, 2003 at 845 rigs. This week’s total rig count is down 9 rigs […]
According to Baker Hughes data from June 5, 2015, the U.S rig count for the week was 868 rigs exploring for or developing oil or natural gas. The last time the active U.S. count was this low was back on January 24, 2003 at 862 rigs. This week’s total rig count is down 7 rigs […]
We ended the month of April with the SMU Price Momentum Indicator at Neutral. As the month of May began, the domestic mills announced price increases and managed to move our needle to Higher. As the month ends, our Momentum Indicator continues to point toward higher domestic flat rolled steel prices over the next 30 […]
According to Baker Hughes data from May 29, 2015, the U.S rig count for the week was 875 rigs exploring for or developing oil or natural gas. The last time the active U.S. count was this low was back on January 31, 2003 at 873 rigs. This week’s total rig count is down 10 rigs […]
According to Baker Hughes data from May 22, 2015, the U.S rig count for the week was 885 rigs exploring for or developing oil or natural gas. The last time the active U.S. count was this low was back on June 12, 2009 at 876 rigs. This week’s total rig count is down 3 rigs […]
According to Baker Hughes data from May 15th, 2015, the U.S rig count for the week was 888 rigs exploring for or developing oil or natural gas. The last time the active U.S. count was this low was back on June 12, 2009 at 876 rigs. This week’s total rig count is down 6 rigs […]
According to Baker Hughes data from May 10th, 2015, the U.S rig count for the week was 894 rigs exploring for or developing oil or natural gas. The last time the active U.S. count was this low was back on June 12, 2009 at 876 rigs. This week’s total rig count is down 11 rigs […]
According to Baker Hughes data from May 1st, 2015, the U.S rig count for the week was 905 rigs exploring for or developing oil or natural gas. The last time the active U.S. count was this low was back on June 19, 2009 at 899 rigs. This week’s total rig count is down 27 rigs […]
The energy markets, especially oil and natural gas, are major users of flat rolled steel and plate products. As oil prices have fallen the production of pipe & tube and related products for the energy segment of the economy have fallen significantly. This has had a major impact on hot rolled coil production and pricing. […]
According to Baker Hughes data from April 17th, 2015, the U.S rig count for the week was 954 rigs exploring for or developing oil or natural gas. The last time the active U.S. count was this low was back on July 31, 2009 at 948 rigs. This week’s total rig count is down 34 rigs […]
According to Baker Hughes data from April 2nd, 2015, the U.S rig count for the week was 988 rigs exploring for or developing oil or natural gas. The last time the active U.S. count was this low was back in late-August 2009 at 968 rigs. This week’s total rig count is down 40 rigs when […]