Fuel for Thought

Slowing US Rig Counts

Posted by Bob LaFlamme on Fri, Jul 28, 2017

Energy-news-oildrill.jpgHere's the latest report below provided by Hedge Solutions highlighting some of the factors driving energy and heating oil pricing for New Englanders as we come to the end of July 2017.

U.S. Onshore Rig Count Additions Have Slowed

Front-month WTI crude futures prices traded on NYMEX have fallen from the $50 - $55/bbl range they traded in for much of the first quarter of the year, to a low of $42.05 last month and highs in both June and last week of under $50/bbl. Amid the weaker prices, rig count additions have slowed in recent weeks, and we saw a rare decline last week, according to data from Baker Hughes.

To read the latest Energy Procurement Report, just click on the image below to view it full size:

oil market report july 2017

Check Current Oil Prices at Crowleyfuel.com

Order fuel online at CrowleyFuel.com

Tags: Oil Prices, Energy News