Oil Prices

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Oil Looks to Be Down for the Long Haul

2017-02-28T01:13:21+00:00September 23rd, 2016|Tags: , , , , , , , , |

I've spent about as much time reading up on the medium term prospects for the oil market as anyone this past week to try and gauge what the market for steel castings and ductile iron castings is likely to be as we head into 2016 . A few stories that kind of sum up the picture [...]

OPEC is Crushing Our Hopes and Dreams

2016-09-23T13:15:50+00:00September 23rd, 2016|Tags: , , , , , , |

As if the Steel Foundry industry was not already reeling enough as it is... I think this article says it all:  http://www.bloomberg.com/news/articles/2015-10-20/after-year-of-pain-opec-close-to-halting-u-s-oil-in-its-tracks To expound on what the article says, OPEC will continue to crush the U.S. Oil Boom with production levels that won't allow the price of oil to return to $60-$70 per barrel until mid [...]

The Steel Casting World

2017-02-28T01:10:38+00:00September 23rd, 2016|Tags: , , , , , , |

We are seeing some real trouble out there in the steel castings world folks.  Despite news that all sectors of the US economy are holding their own, the industrial world, steel foundries in particular, are doing their best to tread water while oil and most other commodities find an equilibrium, but it's painful. There are several [...]

Oil Price Slump Hurts the Giants

2016-09-23T13:10:16+00:00September 23rd, 2016|Tags: , , |

As a steel castings foundry, our industry has taken a hit by low oil pricing.  Many of our peers in the industry are significantly off their 2014 numbers due to the pricing slump, but it obviously isn't just the steel foundry guys. Exxon, Chevron, and many of the other household names are continuing to feel the [...]

Oil Creeps Up!

2016-09-23T13:06:32+00:00September 23rd, 2016|Tags: , , |

Well folks, we'€™re working through the downturn in oil prices just like everyone else seems to be in the steel foundry industry these days. Oil just settled at a 2015 high of $60.93/barrel, which is definitely positive movement but still nothing to write home about. We’ll have to see if any of the curtailments in exploration [...]