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NYMEX October light sweet crude oil....>

US OIL CLOSE
US OIL CLOSE: NYMEX October light sweet crude oil futures settled up $0.44 at
$47.87 per barrel, after trading in a $47.39 to $47.91 range.
- The August 17 low of $46.46 was the lowest crude level since July 25, when
West Texas Intermediate bottomed at $46.38.
- The front contract peaked August 10 at $50.22. This came after topping out at
$50.43 August 1 and $50.41 July 31, which was also the last time WTI closed
above the $50 mark. Most recently,
- WTI topped out at $52.00 May 25, before the announcement of a nine-month
extension of OPEC/non-OPEC production cuts. The extension was largely priced in
and oil fell to $42.05 on June 21 and has since stabilized at higher levels.
- Baker Hughes rig count data, released Friday, showed a four rig decrease to
759 rigs for U.S. "oil-only" rigs in the week ending August 25. This is a bit
less than double the 406 rigs seen a year ago. However, rigs were still down
52.8% from the peak rig count of 1,609 rigs seen Oct. 10, 2014.

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