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ENERGY: What to Watch: Rig Counts & COT & WTI Option Expiry

ENERGY
  • The latest Baker Hughes rig count data is due for release at 13:00ET.  The US oil rig count last week fell to the lowest since December 2021 at 478 while the gas rig count was holding just above the June low at 100 last week.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30BST and 15:30ET. Money managers raised net long crude positions further last week to the most bullish since early May. ICE Gasoil net long positioning edged down slightly after reaching the highest since March 2022 in late June while Nymex diesel is still holding a small net short position.

 

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