FROM THE OIL PATCH
HEADLINES OF INTEREST
US Fourth Quarter GDP Downgraded to 0.5%
The American economy, slowed by last fall’s 43-day government shutdown, grew at a sluggish 0.5% annual pace from October through December, the Commerce Department reported
PCE Inflation Holds Steady at 2.8% in February
U.S. inflation increased as expected in February and likely rose further in March amid the war with Iran, a trend that is expected to discourage
Inflation May Jump by Most in Nearly 4 Years as Gas Prices Spike in Wake of Iran War
Soaring gas prices are expected to produce a spike in inflation when the government reports consumer prices for March on Friday, likely unnerving the inflation fighters at the Federal Reserve and heightening the political challenges of rising costs for the White House. Inflation probably rose to 3.4% in March compared
Inflation Surges to 3.3% in March
U.S. consumer prices increased by the most in nearly four years in March as the war with Iran boosted oil prices and the pass-through from tariffs persisted, further diminishing chances for an interest rate cut this year. The Consumer Price Index jumped 0.9% last month, the Labor Department’s Bureau of
Texas Record Oil Production Stabilizing US Supply Amid War
Last year’s record oil production in West Texas has helped the United States supply remain stable despite stockpiles facing a tight squeeze around the world because of the war in Iran, according to experts. Nearly half of all oil produced in the United States in 2025 came from Texas, even
Oil Flows from Saudi Port Steady for Now despite Attack
Saudi Arabia’s oil exports via the Red Sea are holding steady for now, as the impact of a drone attack on its vital cross-country pipeline has yet to filter through. The strike on Wednesday – hours after a ceasefire was declared in the Iran war – damaged one of 11 pumping stations
WEEKLY UPDATE
CRUDE OIL WEEKLY UPDATE (Week Ending 04-10-26)
Crude Oil Summary (EIA) U.S. crude oil refinery inputs averaged 16.3 million barrels per day during the week ending April 3, 2026, which was 129
NATURAL GAS WEEKLY UPDATE (Week Ending 04-10-26)
Market Highlights: Natural gas storage Net injections into storage totaled 50 Bcf for the week ending April 3, compared with the five-year (2021–2025)
ANALYSIS & INSIGHTS
Zekelman Industries Steel Snapshot – March 2026
SMU March HR Coil $1,005 up $30 from February. SMU March CR Coil $1,155 up $30 from February. March Chicago #1 Bush $450, unchanged from
Preston Pipe Report – March 2026
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – Bridger Pipeline Expansion, LLC has filed plans with the Montana Department of Environmental Quality for a
Argus Pipe Logix Line Pipe Report – March 2026
(by Rye Druzin, www.pipe-logix.com) Higher raw material input costs increased US welded line pipe prices in March and took the overall market up. The Argus
AISI Press Release on Latest U.S. Imports of Steel Products – April 2026
(American Iron and Steel Institute 04-09-26) Finished Import Market Share Estimated at 16 Percent in March – Based on the Commerce Department’s most recent Steel