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ENERGY
  • The latest Baker Hughes rig count data is due for release at 18:00BST. Last week saw an unexpected fall in oil rig counts back to 598 but the expectation is that the increasing trend will resume with the count back to 600 today. A higher gas rig count is expected after reaching 161 last week. EIA weekly data showed another increase in US oil production this week and dry gas production remains high after reaching a record on Aug 5.
  • The ICE and Nymex commitment of traders reports will be released after the close today at 18:30BST and 15:30EST. WTI managed money net longs fell to the lowest in more than two years last week on global oil demand concerns and low market liquidity.

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