In each edition of the Standard, we strive to provide you a bare bones summary of what happened to the price of WTI, Natural Gas, and Brent Crude. In addition, we summarize the major reports from API and EIA on Inventory Data. And we also throw in the rig count for good measure.
Since we have not sent the Newsletter in about a month, I will give you the prior numbers from the last Newsletter followed by current:
|WTI Open on January 30, 2017||$53.15|
|WTI as of 12:00 PM on February 10, 2017||$53.97|
|Brent Open January 30, 2017||$55.47|
|Brent as of 12:00 PM on February 10, 2017||$56.73|
|Natural Gas Open on January 30, 2017||$3.300|
|NG as of 12:00 PM on February 10, 2017||$3.049|
On February 07, 2017, API reported its weekly inventory data for the prior week. According to API, U.S. Crude unexpectedly increased by 14.227 million barrels for the prior week. This is the second largest build in U.S. history. Gasoline inventories increased by 2.903 million barrels. Distillates increased by 1.373 million barrels.
In our prior report for EIA data from December 14, 2016, U.S. crude inventories stood at 483.2 million barrels.
On February 08, 2017, the Energy Information Administration released weekly data for the prior week. The EIA weekly report, included the following important notes:
On Friday, February 10, 2017, Baker Hughes released the weekly rig count. The total U.S. Rig count was 647.
On Friday February 10, 2017, Baker Hughes released the weekly rig count. The U.S. oil rig count increased by 8 to a total of 591. The gas rig count increased by 4 to 149, and miscellaneous rigs remained at 1, taking the total up to 741. This is the fourth straight week of increasing rig counts, and marks the highest level since October 23, 2015.
By: Ty Chapman
Five Star Metals, Inc.
Raising the Bar for Customer Service and Quality
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