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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 stable since the start of July and is expected to remain unchanged at 602 this week. The gas rig count has reduced in the last month down to 158 last week 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. The recent tightening of global supplies led to a slight increase in net long positioning of both crude and product markets last week after declining for much of the year.

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