West Texas Intermediate Crude Oil vs. Texas Rig Count Source: US Energy Information Administration (EIA) & Baker Hughes WTI: $77.25 Texas Rig Count: 301 Initial and Continued Claims (Four-Week Moving Average) Initial Claims: 14,842 Continued Claims: 141,013 Download Key Indicators data in Excel TWC Labor Market Information West Texas Intermediate is a crude oil stream produced in Texas and southern Oklahoma that serves as reference for pricing a number of other streams. Rig Count refers to a weekly census of drilling rigs that are actively exploring for or developing oil or natural gas in the United States and Canada. Highlights • In February, the West Texas Intermediate Spot Price averaged $77.25, increasing $3.10 over the month and $0.42 over the year. • Rig count in Texas decreased by 71 rigs over the year and 5 rigs over the month, averaging 301 rigs in February. Rig count has decreased in 10 of the last 12 months. • Initial Claims refers to the number of requests for unemployment benefits; a person can file multiple claims. Continued Claims is the number of claimants receiving benefits. Highlights • The four-week moving average increased by 1.9 percent over the year for initial claims and 16.2 percent for continued claims. • The monthly four-week moving average decreased by 127 claims to 14,842 for initial claims and 5,547 claims to 141,013 for continued claims. Source: Texas Workforce Commission KEY INDICATORS DEALERS’ CHOICE 46
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