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AMERICAS OIL: US ENERGY – What to Watch: US Payrolls, Rig Counts & COT

AMERICAS OIL
USEnergy BulletsNorth AmericaBulletCommodities

US ENERGY – What to Watch: US Payrolls, Rig Counts & COT

  • US nonfarm payrolls are due for release at 08:30 ET. January’s employment report will receive almost as much attention for comprehensive revisions as for the monthly nonfarm payroll gains, which are expected to slow to 170-180k from December’s strong 256k.
  • The latest Baker Hughes rig count data is due for release at 13:00ET.  The US oil rig count last week rebounded to 479 while the gas rig count edged down to 98.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30GMT and 15:30ET. Previous data showed funds cut the combined Brent and WTI net long oil positioning with a drop in WTI positions more than offsetting an increase in Brent. Funds cut net long ICE Gasoil positions on the and switched back to a narrow net short on Nymex diesel. Nymex gasoline net long positions fell again to the least bullish since October. 
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US ENERGY – What to Watch: US Payrolls, Rig Counts & COT

  • US nonfarm payrolls are due for release at 08:30 ET. January’s employment report will receive almost as much attention for comprehensive revisions as for the monthly nonfarm payroll gains, which are expected to slow to 170-180k from December’s strong 256k.
  • The latest Baker Hughes rig count data is due for release at 13:00ET.  The US oil rig count last week rebounded to 479 while the gas rig count edged down to 98.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30GMT and 15:30ET. Previous data showed funds cut the combined Brent and WTI net long oil positioning with a drop in WTI positions more than offsetting an increase in Brent. Funds cut net long ICE Gasoil positions on the and switched back to a narrow net short on Nymex diesel. Nymex gasoline net long positions fell again to the least bullish since October.