For the week ending June 23, crude oil (USO) prices continued their weekly declining trend. Crude oil prices fell from $44.97 per barrel to $43.01 per barrel.
Schlumberger (SLB) and crude oil prices have been strongly correlated in the past year.
As of June 23, 2017, short interest in Schlumberger’s (SLB) stock as a percentage of its float was ~1.8% compared to 1.2% on March 31, 2017.
On June 23, 2017, Schlumberger’s (SLB) implied volatility was 22.4%.
Schlumberger’s (SLB) one-year stock price was down 14% as of June 23, 2017.
Like its freight railcar volumes, Canadian National Railway’s (CNI) intermodal traffic has exhibited a robust rise so far in 2017.
In this final part of our rail freight series, we’ll discuss Canadian Pacific Railway’s overall volumes, including intermodal volumes.
Canada’s largest freight rail, Canadian National Railway (CNI), is undoubtedly the YoY (year-over-year) volume growth superstar of 2017.
The week ended June 17, 2017, saw Kansas City Southern’s (KSU) overall railcars rise 4.3% over the same week last year.
In week 24 of 2017, Kansas City Southern (KSU) saw its overall intermodal volumes rise 10.6%, unlike in the previous two weeks.
BNSF Railway’s overall intermodal volumes rose 8.6% YoY (year-over-year) to ~104,000 containers and trailers, compared to nearly 96,000 units in the same week last year.
BNSF Railway (BRK-B) is a major North American freight transportation company. It has a rail network of 33,000 route miles in 28 states and three Canadian provinces.
The direction of Union Pacific’s (UNP) intermodal volumes stood in contrast to the direction of its freight volumes. The company moved ~75,000 containers and trailers.
CSX Corporation’s (CSX) intermodal volumes trended in contrast with other freight volumes in week 24. In the week, the company’s intermodal volumes rose 2.1%.
In the western United States, two major railroad companies rule the roost: Union Pacific (UNP) and Berkshire Hathaway–owned BNSF Railway (BRK-B).
Norfolk Southern’s overall intermodal traffic rose 6.8% in the week ended June 17, 2017. The company’s intermodal volumes reached ~80,000 containers and trailers.
Bucking the rising trend, Florida-based CSX Corporation (CSX) reported a 3.6% fall in overall railcars in the week ended June 17, 2017.
Norfolk Southern and its rival CSX Corporation operate in the eastern United States. In the week ended June 17, 2017, NSC’s total railcar volumes rose 2.2% to ~69,000.
The Association of American Railroads has released its freight volume data for North American railroad companies for the 24th week of 2017, which ended on June 17, 2017.
The correlation coefficient between Weatherford International’s stock price and WTI crude oil prices from June 23, 2016, to June 23, 2017, is 0.48.