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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 is expected to show an increase of 1 to 605 this week. The gas rig count has reduced in recent weeks down to 159 after steadily increasing since late last year.
  • The ICE and Nymex commitment of traders reports will be released after the close today at 18:30BST and 15:30EST. Managed money net long positions have been gradually trending lower this year on low liquidity and increasing demand concerns although crude positions have stabilised in recent weeks.
  • Markets will also watch for the updated US payrolls data at 13:30BST.

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