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What to Watch

ENERGY
  • The latest Baker Hughes rig count data is due for release at 18:00BST. The oil rig count has remained largely unchanged since the start of July and was last week at 599. The gas rig count has been slowly increasing although last week saw a fall back to 162.
  • The ICE and Nymex commitment of traders reports will be released after the close today at 18:30BST and 15:30EST. Managed money net longs in Nymex WTI and ICE Brent crude have found some support over recent weeks after trending lower this year driven by bearish demand concerns and low liquidity.

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