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 […]
Each month the Bureau of Labor Statistics (BLS) puts out its series of producer price indexes, for thousands of goods and materials. For an explanation of this program see the end of this piece. The latest release last Friday reported results through August. We run this analysis every three or four months to give readers […]
This report compares domestic mill shipments and total supply to the market. It quantifies market direction by product and enables a side by side comparison showing the degree to which imports have absorbed demand. Sources are the American Iron and Steel Institute and the Department of Commerce with analysis by SMU. Table 1 shows both […]
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 […]
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 […]
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 […]
Both these data points are reported in the Federal Reserve G17 data base. The IP index was reported as 105.102 for May, down by 0.18 from April and down from the all-time high of 106.309 in November last year. The three month moving average, (3MMA) in May was 105.40, down by 0.23 from April. January […]
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 […]
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 […]
The Q2 2015 February Senior Loan Officer Opinion Survey on Bank Lending Practices was released on May 4th. This survey addresses changes in the standards and terms on, and demand for, bank loans to businesses and households on a quarterly basis and is based on the responses from 76 domestic banks and 23 U.S. branches […]
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 states compile their employment numbers independently of the Feds then both are reported by the Bureau of Labor Statistics. The results are very close. In the last nine quarters since Q1 2013, the Feds reported total job creation of 5,992,000 and the states reported 5,895,000. Figure 1 and Figure 2 show the history of […]
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 […]
The U.S. steel mills saw exports for steel products fall during the month of February. The U.S. Department of Commerce released new information late last week regarding the exports shipped out of the domestic steel mills to destinations outside the United States. Based on their data, exports totaled 878,459 net tons (note the data is […]