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    Environment and Energy

    Oil and Gas Prices and Rotary Rig Counts in April 2016

    Written by Peter Wright


    The following analysis was done by Peter Wright who writes a number of analytical articles for Steel Market Update. The energy markets are key markets for steel so it is important for our readers to understand oil and gas prices as well as the tubular products associated with drilling and transportation of oil and gas.

    Figure 1 shows historical oil and gas prices since January 2000. The daily spot price of West Texas Intermediate (WTI) closed at $40.46 on April 11th which was the highest since December 3rd last year according to the latest daily figure available from the Energy Information Administration (EIA).

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