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What to Watch

ENERGY
  • The latest Baker Hughes rig count data is due for release at 13:00ET. The oil and gas rig count data continues to trend lower with oil down to 546 last week and gas rigs falling to 130. Oil rigs are forecast to fall to 542 this week according to a Bloomberg survey.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30BST and 15:30EST. Crude managed money net long positions increased last week with Brent the highest since early May and ICE Gasoil showing a net long position after seeing a net short throughout May and early June.
  • EIA are today due to update the monthly petroleum supply and the crude oil and natural gas production data for April.

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