Environment and Energy
June 29, 2020
Written by Brett Linton
The U.S. Energy Information Administration (EIA) reports that recent declines in demand for petroleum products have led commercial crude oil inventories in the United States to reach an all-time high of 541 million barrels as of the week ending June 19, which is 5 million barrels more than the previous record set in late March 2017.
Spot Prices
Steel trade continues to cause dissension among our friends, perhaps more so than our adversaries. The conflict between the US and EU is the most talked about, but it impacts others including Japan, Brazil and India.
Five domestic steel trade associations wrote a letter requesting the government to ensure the use of US-made steel in certain components of wind and solar projects receiving federal funding. Addressing the letter to US Treasury Secretary Janet Yellen, the groups included the American Iron and Steel Institute (AISI), Steel Manufacturers Association (SMA), American Institute of Steel Construction (AISC), […]
The rig count roller coaster continues, with numbers dropping in the US but inching up in Canada this week, according to the latest data from oilfield services company Baker Hughes. The total US rig count dipped to 664 active rigs as of July 28, down five from the week prior. Active oil rigs in the US decreased […]
The active rig count in the US and Canada dropped in both countries, according to the latest data from oilfield services company Baker Hughes. The total US rig count stood at 669 active rigs as of July 21, down six from the week prior. Active oil rigs in the US decreased by seven to 530, while […]
After seeing an increase last week, the active rig count in the US is back down. Canada’s rig count, however, saw an increase from the previous week, according to the latest data from oilfield services company Baker Hughes. The total US rig count sat at 675 active rigs as of July 14, down five from the week prior. […]